CHFFA Bond Financing Program

About this funding opportunity

This program will provide a borrower with access to low interest rate capital markets through the issuance of tax-exempt and taxable revenue bonds.

Eligibility General Requirements -Must be a health facility as defined in the Authority's Act (Section 15432(d) of the California Government Code) -Must be a non-profit 501(c)(3) corporation or public health facility (e.g., district hospital) as defined in the Authority's Act (Section 15432(e) of the California Government Code) -Must have been in existence for at least three years, providing the same types of services -Must demonstrate evidence of fiscal soundness and the ability to meet the terms of the proposed loan Use of Funds Funds may be used for: -Construction, remodeling, renovation, and/or improvements -Land acquisition -Acquisition of existing health facilities -Equipment and/or furnishings -Refunding of prior debt -Working capital for start-up facilities -Costs of bond issuances, feasibility studies & reimbursement of prior expenditures Loan Terms -Market determined fixed or variable rate interest rate, depending on maturity -No loan maximum -Maximum loan maturity typically 40 years -Loan security provisions and bond covenants that correspond with bond rating Fees -No application fee -Initial fee of 0.05% of the issue amount (maximum $100,000), set fee of $1,000 for smaller health systems and public health facilities -Annual administrative fee of 0.0175% of the bonds outstanding (maximum $150,000), maximum of $500 for small health systems and public health facilities Required Documentation -Three most recent fiscal years of audited financial statements

Topic areas: Life Sciences and Health.

Funding amount

This other provides $1-$5000M in funding, up to $5000M per award.

Deadline

Applications are accepted on a rolling basis; there is no single fixed deadline.

Who can apply

This opportunity is open to the following applicant types:

• NGOs
• Public Authorities

Eligibility

-Must be a health facility as defined in the Authority's Act (Section 15432(d) of the California Government Code -Must be a non-profit 501(c)(3) corporation or a public health facility (e.g., district hospital) as defined in the Authority's Act (Section 15432(e) of the California Government Code) None.

Agency

CHFFA Bond Financing Program is administered by State Treasurer's Office (STO), listed via State Treasurer's Office.