CHFFA Commercial Paper Program
Unofficial — verify with the issuing agency before applying.
View & apply on Grants.gov →A commercial paper (short-term debt) financing program for California nonprofit 501(c)(3) health facilities or public health facilities operating at least three years with demonstrated fiscal sound…
- Deadline
- Not specified
- Posted
- Sep 13, 2023
- Award amount
- $1–$5,000,000,000
- Focus areas
- Health & Human Services
In plain English
A commercial paper (short-term debt) financing program for California nonprofit 501(c)(3) health facilities or public health facilities operating at least three years with demonstrated fiscal soundness. Funds construction, renovation, equipment, and refinancing of prior debt; notes must be issued in $100,000 denominations and carry a top-tier short-term credit rating. This is debt financing, not a grant, and requires three years of audited financials.
AI-generated summary to help you decide quickly — verify the official eligibility rules before applying.
Who can apply
Nonprofit; Public Agency
About this grant
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 -Any commercial paper issued by Authority must receive short-term rating of at least A-1/P-1/F-1 by at least one nationally recognized rating agency -Must be issued in denominations of $100,000 -Final maturity date cannot exceed 40 years -Commercial paper application must include a detailed description of capital projects to be funded by proceeds Fees -No application fee -Initial fee of 0.05% of the issue amount (maximum $100,000) -Annual administrative fee; greater of $5,000 or 0.0175% of the maximum amount of notes outstanding during the billing year Required Documentation -Three most recent fiscal years of audited financial statements
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Source: public records via Grants.gov. UseGrants is an independent aggregator, not affiliated with any funding agency. Always confirm details on the official listing before applying.