TREASURY - School Loan Revolving Fund

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School Loan Revolving Fund

May 2013 Semi-Annual Application

The School Loan Revolving Fund (SLRF) is a self-sustaining fund that makes loans to school districts to assist with making debt service payments on state qualified bonds issued under the School Bond Qualification and Loan Program. Any money repaid by school districts on loans made by the SLRF are deposited back into the fund for future use.

In order to borrow from the state for debt service needs the district must:

Have the bond issue qualified.
Levy a minimum of 7 debt mills.

School Loan Revolving Fund participants must submit a board authorized application due annually every August 1^st:

2013 Semi-Annual Activity Application

The School Loan Revolving Fund Process PDF

provides detailed information regarding participation requirements. Participants are encouraged to download or print this reference document.

School District Loan Account Statements

SBQLP Administrative Rules PDF icon

Borrowing for Debt Service

A district may request a loan from the state for the additional portion of the funds required to make full debt service payment rather than increase its current debt millage. Funds are disbursed to the district before the May and November debt service payments.

Debt Service Repayment

While loan repayment is deferred until the required debt millage yields enough to pay the district's debt service obligations, interest accumulation does begin once funds are disbursed.

Stay Informed

SBQLP Electronic Mailing List SBQLP Listserv subscription information. Keep up to date regarding program changes and deadlines.

Contact SBQLP

School Bond Qualification and Loan ProgramAustin Building, 1st Floor
430 W. Allegan
Lansing, MI 48922

Phone: (517) 335-0994
Fax: (517) 241-1233


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