Healthcare Expansion Loan Program II (HELP II)
Frequently Asked Questions (FAQ)
Benefits and Terms
- What benefits does CHFFA offer to qualifying non-profit health facilities?
- How do I determine my monthly payments?
- What is the repayment period for a HELP II loan?
- Does CHFFA require a 5% down payment or other borrower’s contribution?
CHFFA offers flexible loan terms, minimal loan fees, no prepayment penalty, an easy application process, and a dedicated and knowledgeable staff.
2% Interest Rate Schedule for equipment and furnishings; and purchase, construction, and renovation of real property
3% Interest Rate Schedule for refinancing
- Property acquisition, construction, and renovation loans are limited to a maximum of 20 years.
- Refinancing loans are limited to a maximum of 15 years.
- Equipment loans are limited to a maximum of 5 years.
Borrowers must contribute a minimum of five percent (5%) toward project costs. This five percent (5%) must be in the form of cash or documented project expenditures, subject to Authority approval. For refinancing transactions, the five percent (5%) may come from the equity in the property.