Offers a streamlined loan programs 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 for the schools.



Richard H. Austin Building, 1st Floor
430 W. Allegan
Lansing, MI 48922
Phone: (517) 335-0994
Fax: (517) 241-9509
www.michigan.gov/mfa
TreasMFA-StateAidNote@michigan.gov
Rate Summary:
| |
2009 C1
(Set Asides) |
2009 C2/3 (No Set Asides) |
2010 D1
(Set Asides) |
2010 D2/3
(No Set Asides) |
2011 C1
(Set Asides) |
2011 C2/3
(No Set Asides) |
|
Closing Date |
20-Aug09 |
20-Aug-09 |
20-Aug-10 |
20-Aug-10 |
22-Aug-11 |
22-Aug-11 |
|
Maturity Date |
20-Aug-10 |
20-Aug-10 |
19-Aug-11 |
22-Aug-11 |
20-Aug-12 |
20-Aug-12 |
|
Note
Interest Rate |
1.40% |
0.85% |
0.80% |
0.40% |
0.60% |
0.31% |
|
Interest Rate to Borrowers |
1.63% |
2.96% |
0.98% |
2.29% |
0.78% |
1.81% |
|
Credit Rating |
SP-1+ |
SP-1+ |
SP-1+ |
SP-1+ |
SP-1 |
SP-1+ |