The California Health Facilities Financing Authority (CHFFA) recognizes the difficulty small and rural health facilities have in obtaining adequate financing for their capital needs. The HELP II Loan Program provides low-interest rate loans to California’s nonprofit small or rural health facilities in an efficient, timely, and cost effective manner. HELP II loans may be used to purchase or construct new facilities, remodel or renovate existing facilities, purchase equipment or furnishings, and refinance existing debt.

Facilities with gross annual revenues of up to $40 million are eligible for loans under this program. District hospitals and rural health facilities are eligible without any revenue limitations. Applications are accepted on a monthly basis.

NOTE: You must create an account and log in through this website (Submittable) in order to submit an online application for CEFA's Bond Financing Program. You may also share a collaboration link with your financing team members if you would like to ask third parties to upload application documents or review your application.

Standard Bond Financing Program

This program provides a borrower with affordable, tax-exempt bonds to qualified nonprofit higher education institutions that wish to buy or refinance property and equipment, or build and improve campus facilities, in order to better serve its student population and faculty. Eligible borrowers may use proceeds from the sale of bonds for construction and/or renovation of facilities, land acquisition for future projects, acquisition of existing facilities, refinancing of existing debt, costs of issuance, or other qualified expenses.

Alternatively, CEFA also offers alternative financing opportunities, such as refunding bonds, taxable conduit bonds, direct/private placements, or pooled bonds.

Flexibility of Financing Structure

CEFA has extensive experience issuing bonds and other forms of indebtedness in both public offerings and direct placements using a variety of structures, including multi-modal indentures, master indentures, master loan agreements, deeds of trust and other security documents, and other financing structures (including forward delivery). The depth of experience of CEFA staff has made the agency well positioned to consider innovative financing techniques.

NOTE: You must create an account and log in through this website (Submittable) in order to submit an online application for CHFFA's Bond Financing Program. You may also share a collaboration link with your financing team members if you would like to ask third parties to upload application documents or review your application.

Standard Bond Financing Program

This program provides a borrower with access to low interest rate capital markets through the issuance of tax-exempt and taxable revenue bonds. Proceeds from the loan may be used by eligible borrowers to fund construction/renovation projects, land acquisition for future projects, acquisition of existing health facilities, refinancing of existing debt, working capital for start-up facilities and pay costs of issuance. Given the cost of issuing bonds, this option is usually pursued by borrowers with capital projects in excess of $5 million.

Alternatively, CHFFA also offers alternative financing opportunities, such as refunding bonds, taxable conduit bonds, direct/private placements, or pooled bonds.

Flexibility of Financing Structure

CHFFA has extensive experience issuing bonds and other forms of indebtedness in both public offerings and direct placements using a variety of structures, including multi-modal indentures, master indentures, master loan agreements, deeds of trust and other security documents, and other financing structures (including forward delivery). The depth of experience of CHFFA staff has made the agency well positioned to consider innovative financing techniques.