Corlears School is a 501(c)(3) nonprofit headquartered in New York, NY founded in 1968. They are seeking financing for working capital to maintain operations while the school awaits sale of their building, and the Attorney General’s approval of the sale. With property offers exceeding $20 million and $11 million in existing debt, the school anticipates full loan repayment from sale proceeds. The Bronze rating reflects reliance on the timing and sale of their property.
The building sale is anticipated to close by April 1, 2026. This 12-month loan includes a built-in buffer: if the loan extends beyond the anticipated timeline, a +2% interest rate will be applied, providing lenders with an enhanced return during the extended period.
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The building sale is anticipated to close by April 1, 2026. This 12-month loan includes a built-in buffer: if the loan extends beyond the anticipated timeline, a +2% interest rate will be applied, providing lenders with an enhanced return during the extended period.
Corlears students learn, play and grow together in a school designed for who they are at ages 2 through 10. During these crucial formative years, they build a foundation of compassion, critical thinking, imagination and leadership, and cultivate a joy and confidence in learning that serves their graduates throughout their lives.
Corlears School is a progressive independent school dedicated to the education of children from 12 months through fifth grade. Since 1968, Corlears has been one of the few schools in NYC focused exclusively on early childhood and elementary education, with a belief backed by decades of experience that the early years are crucial to instilling a lifelong love of learning.
Corlears School’s community is diverse, and enrolled families fall along a wide spectrum of socioeconomic capacity, and the school is a local pillar for its families and the wider Chelsea/West Village community. Barriers to access independent schools begin with tuition. Corlears has addressed that through their Tuition Equity and Accessibility Model (TEAM), a sliding-scale model through which every family pays what they can. As a result, over 40% of gross tuition at Corlears is dedicated making it possible for families to pay below maximum tuition (termed financial aid in most schools). A typical independent school dedicates 15-20% of gross tuition to financial aid.
In addition to its robust school program and after-school options, Corlears offers free programming to all families on select Saturdays throughout the school year via its Learn. Play. Grow. initiative; Camp Corlears, a summer day camp led by the school’s experienced teachers, is also open to all; and weekend space rentals are offered for birthday parties and more.
Corlears has a history of graduating high-achieving, thoughtful, and compassionate emerging leaders well-equipped for the next step in their academic journey.
In a safe and supportive environment centered on social and emotional development, students are encouraged to ask questions, think freely, and advocate for themselves and others. Dedicated faculty and experts in child development tailor the interdisciplinary curriculum to each child’s strengths and needs, because every child is an original.
The beautiful, light-filled facilities located in the Chelsea neighborhood of Manhattan are filled with the sounds of joyful children who are engaged with each other in meaningful ways, and curious about the community in which they live. Corlears School’s commitment to access and belonging has established a community that is truly unique among NYC independent schools.
Corlears is driven by six core values: compassion, growth, courage to act, responsibility, belonging, and curiosity. These values are cultivated in every experience for students, families, and staff, because Corlears is driven to make the world a better place, starting in their own backyard.
The proceeds from this loan will be used for working captial required to maintain program operations.
The loan will be repaid when the Corlears School building sale is funded in early 2026.
