CHFFA Bond Financing Program

The California Health Facilities Financing Authority (CHFFA) Bond Financing Program provides eligible nonprofit health facilities and public health agencies with access to low‑interest capital through the issuance of tax‑exempt and taxable revenue bonds. Applicants must be 501(c)(3) nonprofit hospitals or public health facilities that have operated for at least three years, demonstrate fiscal soundness, and can meet loan terms. Loans have no maximum amount, typical maturities up to 40 years, and are secured by bond covenants. Fees are modest (0.05% issuance fee up to $100 k, plus a small annual administrative fee). Funds may be used for construction, renovation, land acquisition, equipment, debt refinancing, start‑up working capital, and related bond issuance costs. The program has an open‑ended “ongoing” award schedule with up to $5 billion in total available funding and an indefinite period of performance. • Eligible applicants: nonprofit hospitals, district hospitals, and other public health facilities. • Eligible uses: capital projects, equipment, land, debt refinancing, and start‑up costs. • Loan terms: market‑determined fixed or variable rates, up to 40‑year maturity, no loan cap. • Fees: 0.05% of issue amount (max $100 k) plus $1,000 for small systems; annual admin fee 0.0175% (max $150 k) or $500 for small systems. • Required documentation: three most recent audited financial statements. • Funding method: advances and reimbursements; no matching fund requirement; no letter of intent required.