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Tax-Exempt Equipment Financing Program – CHFFA

Grantor:
State Treasurer's Office
Portal ID:
1632
Status:
Active
Open Date:
7/6/20 00:00
Opportunity Type:
  • Loan
Last Updated:
 | 
Categories:

Details

Purpose:

This program will provide a borrower with access to tax-exempt, fixed-rate financing for equipment purchases.

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:

-The purchase or reimbursement of all types of qualifying equipment by an eligible health facility

-The financing of minor equipment installation costs

Loan Terms

-Market determined fixed interest rate, depending on maturity

-The maturity of the loan must relate to the useful life of the equipment to be financed

-Loan minimum of $500,000, no maximum loan amount

Fees

-$500 non-refundable application fee

-Initial fee of 0.05% of the issue amount

-Annual administrative fee of $400, as long as there is an outstanding loan balance

Required Documentation

-Three most recent fiscal years of audited financial statements

Eligibility Requirements

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)

Eligible Geographies:

None.

Important Dates

The date on which the grantor expects to announce the recipient(s) of the grant.
7/6/2020
The length of time during which the grant money must be utilized.
Ongoing

Funding Details - Prod Migration Test

The total projected dollar amount of the grant.
See Notes Below
A single grant opportunity may represent one or many awards. Some grantors may know in advance the exact number of awards to be given. Others may indicate a range. Some may wish to and wait until the application period closes before determining how many awards to offer; in this case, a value of “Dependent” will display.
Dependent
Grant opportunities representing multiple awards may offer awards in the same amount or in varied amounts. Some may wish to wait until the application period closes before determining per-award amounts; in this case, a value of “Dependent” will display.
$1.00 – $50,000,000.00
Certain grants require that the recipient(s) provide a letter of intent.
No
Certain grants require that the recipient(s) be able to fully or partially match the grant award amount with another funding source.
No

Available Funding Notes:

Dependant 

The funding source allocated to fund the grant. It may be either State or Federal (or a combination of both), and be tied to a specific piece of legislation, a proposition, or a bond number.
  • Other

Funding Source Notes:

Tax-exempt note issuance

The manner in which the grant funding will be delivered to the awardee. Funding methods include reimbursements (where the recipient spends out-of-pocket and is reimbursed by the grantor) and advances (where the recipient spends received grant funds directly).
  • Advances & Reimbursement(s)

How to Apply

State agencies/departments recommend you read the full grant guidelines before applying.

Resources

For questions about this grant, contact:
1-916-653-2799, erica.rodriguez@treasurer.ca.gov

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