Public School Academy State Aid Note (PSA SAN)
Public School Academy State Aid Note (PSA SAN)
Closing: August 28, 2025
Application Due: July 7, 2025
What is the PSA SAN?
The Michigan Finance Authority (MFA) offers a streamlined loan program 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.
August 2025 PSA SAN - Application
All application materials must be submitted to MFA by Note Counsel on or before July 7, 2025.
The following documents are required for a complete application:
- Application: PSA State Aid Note Loan Program Application (Form 4039A)
- Submit to Note Counsel as a Microsoft Word document (in addition to the signed copy)
- Certificate of Authorizing Body (Form of)
- Educational Service Provider Agreement (management contract), if any
- PSA State Aid Note Loan Program Cash Flow Attachment (Form 4046A)
- Submit to Note Counsel as a Microsoft Excel spreadsheet
- Academy Board Resolution Authorizing 2025 State Aid Note Borrowing (Form of)
- Academy General Fund Budget – Fiscal Year End 6/30/2024, as amended
- Academy General Fund Budget – Fiscal Year End 6/30/2025, as adopted
Contact MFA
Richard H. Austin Building, 1st Floor
430 W. Allegan
Lansing, MI 48922
Phone: 517-335-0994
Fax: 517-241-9509