Michigan Finance Authority Programs

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.

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.

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.

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

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.

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.

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.

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.

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

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).

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.

The School Bond Qualification and Loan program was established by the Michigan Constitution of 1963 and amended by Public Act 92 of 2005 to provide a state credit enhancement and loan mechanism for school district bond issues. The bonds must be qualified by the State Treasurer and the bond proceeds must be used for capital expenditure purposes.

The Unified Volume Limitation Allocation Act 496 of 1988 provides the guidance for the Department of Treasury to implement the private activity bond process. Private Activity Bonds are tax exempt securities issued by or on behalf of a local government to provide debt financing used for the trade or business of a private user, as provided by Internal Revenue Code (IRC) Section 141 et seq. These bonds are used to attract private investment for projects that have some public benefit. This type of bond results in reduced financing costs because of the exemption from Federal tax. It is important to note that like other municipal securities, bond counsel is responsible for both Federal and State tax law compliance.