California Health Facilities Financing Authority

Bond Financing Program

Provides the issuance of low-interest, tax-exempt and taxable revenue bonds for the construction and acquisition of health care facilities and projects.

Contact Information

If you have any questions about the Bond Financing program, please contact CHFFA.

Blackout Periods

Please note that for Cal-Mortgage insured transactions, borrowers may not issue during the state’s blackout periods, roughly December 1 through January 10 and from May 1 through the date of the enactment of the State budget.

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Standard Bond Financing Program

This program provides a borrower with access to low interest rate capital markets through the issuance of tax-exempt and taxable revenue bonds. Proceeds from the loan may be used by eligible borrowers to fund construction/renovation projects, land acquisition for future projects, acquisition of existing health facilities, refinancing of existing debt, working capital for start-up facilities and pay costs of issuance. Given the cost of issuing bonds, this option is usually pursued by borrowers with capital projects in excess of $5 million.

Pooled Bond Financing Program

Borrowers with more modest financing needs are sometimes grouped or "pooled" by CHFFA into a single bond financing, where bond issuance costs are shared by participants. This type of financing will generally allow a borrower to finance a loan for a minimum of $500,000 for eligible projects.

Application (in Word) Bond Application Process and Resources Template Bond Documents - Investment Grade Related Transactions