CHFFA Bond Financing Program

Who can apply

NonprofitPublic 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)

Where: None.

Purpose

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

Description

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

Important dates

Opened

Jul 7, 2020

Application deadline

Ongoing

Expected award announcement

Ongoing

Period of performance

Ongoing

Funding details

Total estimated available

$5,000,000,000.00

Estimated amount per award

Between $1.00 and $5,000,000,000.00

Expected number of awards

Dependant on number of submissions received, application process, etc.

Letter of intent required

No

Matching funds

Not Required

Funding source

Other

Funding source notes

Revenue bond debt issuance

Funding method

Advances & Reimbursement(s)

How to apply

Read the full guidelines on the grantor's site, then apply there. Nothing is submitted through this site.

Submission: email: [email protected]

• Grant guidelines & application ↗
• State Treasurer's Office ↗
• Original listing on grants.ca.gov ↗

Questions about this grant: email: [email protected]; tel: 1-916-653-2799;