State and Authority Finance IconFinance Programs


Revolving Fund Programs

Bureau of State and Authority Finance

Local Government Loan Program

  • Local Government Loan Program (LGLP)

    Provides competitive interest rates for 3 to 30 year loans. Typically, tax-exempt bonds or installment purchase contracts are issued under this program. All Michigan units of local government and public entities are eligible to apply.

Strategic Water Quality Initiatives Fund

Healthcare Programs

  • Healthcare Project Finance

    Provides access to effective, low-cost capital financing to providers of health care services that participate in any phase of the continuum of health care, in order to finance or refinance healthcare projects.

Higher Education Programs

  • Higher Education Project Finance

    Provides higher education with effective, low-cost options to finance or refinance their facilities.

  • Higher Education Student Loan Programs The Michigan Finance Authority is authorized to provide both federally guaranteed and private loans for students and parents of students pursuing post-secondary education. MFA is the successor, per Executive Order 2010-2, to both the Michigan Higher Education Student Loan Authority (MHESLA) and the Michigan Higher Education Assistance Authority (MHEAA).

K-12 School Programs

  • State Aid Note Program (SAN)

    A streamlined loan program to finance short-term operational cash flow needs for traditional public schools. Michigan Finance Authority ("MFA") facilitates the process by pooling the loans, soliciting bids and obtaining the highest possible short-term rating, resulting in competitive interest rates and typically lower costs of borrowing.

  • Public School Academy State Aid Note (PSA SAN)

    Offers a streamlined loan programs to finance short-term operational cash flow needs for public school academies. MFA facilitates the process by pooling the loans, soliciting bids and obtaining the highest possible short-term rating, resulting in competitive interest rates and typically lower costs for the schools.

  • Private/Non-Profit School Project Finance

    Provides competitive interest rates for 3 to 30 year loans. Typically, tax-exempt bonds or installment purchase contracts are issued under this program.

  • Public School Academy Project Finance

    Provides public school academies (PSAs) with effective, low-cost, facilities finance options to finance or refinance the acquisition, construction, improvement or alteration of land, facilities, equipment, machinery, parking, the payment of project costs, or to refinance existing debt.

  • School Bond Qualification and Loan Program (SBQLP) Qualified bonds provide school districts access to the State's credit rating, which will usually result in a lower interest rate and cost, and the ability to borrow for the principal and interest requirements on outstanding qualified bonds (subject to a minimum debt millage).
  • Local Government Loan Program (LGLP)

    Provides competitive interest rates for 3 to 30 year loans. Typically, tax-exempt bonds or installment purchase contracts are issued under this program. All Michigan units of local government and public entities are eligible to apply.