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RollingCalifornia · State Portal

CHFFA Bond Financing Program

State Treasurer's Office

Description

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

Award amount

$1 – $5,000,000,000

Total program funding: $5,000,000,000

Eligibility

Eligible applicants: Nonprofit; Public Agency. -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) Geography: None..

Who can apply: Nonprofits, Government & Tribal

Location

California (USA)

Categories

Funding source

State/Provincial Government

Important dates

  • Opens: Jul 7, 2020
  • Deadline: Rolling / ongoing

How to apply

Submission: email: chffa@treasurer.ca.gov; Matching funds: Not Required. Contact: email: chffa@treasurer.ca.gov; tel: 1-916-653-2799;

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