LOAN AND LOAN GUARANTEE PROGRAMS
- Infrastructure State Revolving Fund Program
The Infrastructure State Revolving Fund (ISRF) Program provides low-cost financing to public agencies for a wide variety of infrastructure projects. ISRF Program funding is available in amounts ranging from $50,000 to $25,000,000, with terms of up to 30 years. Interest rates are fixed for the term of the financing.
- Small Business Loan Guarantee Program
Provides repayment guarantees to lenders of loans to small businesses having difficulty securing financing on their own. The guarantees are issued by non-profit Financial Development Corporations. The Financial Development Corporations partner with community banks to help small business owners finance their plans including expanding operations, purchasing new equipment and infusing businesses with working capital. Guarantees may also be issued on loans for start-up costs.
REVENUE BOND PROGRAMS
- 501(c)(3) Revenue Bond Program
The 501(c)(3) Revenue Bond Program provides tax-exempt financing to eligible nonprofit public benefit corporations for the acquisition and/or improvement of facilities and capital assets. Typical borrowers include cultural, charitable and recreational organizations, research institutes and other types of organizations that provide public benefits.
- Industrial Development Revenue Bond Program
The Industrial Development Revenue Bond (IDB) Program provides tax-exempt financing up to $10 million for qualified manufacturing and processing companies for the construction or acquisition of facilities and equipment. IDBs allow private companies to borrow at low interest rates normally reserved for state and local governmental entities.
- Exempt Facility Revenue Bond Program
The Exempt Facility Revenue Bond Program provides tax-exempt financing for projects that are government-owned or consist of private improvements within publicly-owned facilities, such as private airline improvements at publicly-owned airports.
- Public Agency Revenue Bond Program
The Public Agency Revenue Bond Program provides bond financings to provide financial support for various State entities and programs.