Public School Districts

  • 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.

  • 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.

Public School Academies

  • 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.

  • 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.

Private/Non-Profit School Project Finance

Bureau of State and Authority Finance