The California Health Facilities Financing Authority (CHFFA) Bond Financing Program provides eligible California public hospitals and private nonprofit health facilities access to tax-exempt and taxable revenue bond financing. CHFFA accepts applications on an ongoing basis. Its current application states that completed applications are typically due by the first business day of the month for consideration at that month’s scheduled Authority meeting; no clock time or time zone is published.
Eligible borrowers generally must be a public hospital or qualifying private nonprofit health facility under the CHFFA Act, have operated for at least three years, provide three years of audited financial statements, and demonstrate sufficient revenue or collateral to cover debt service. Borrowers must also satisfy CHFFA bond issuance guidelines, security provisions, covenants, community-service requirements, and Authority approval.
Eligible uses include construction, remodeling and renovation, land acquisition tied to a project, acquisition of existing health facilities, purchase or lease of equipment, refinancing/refunding of prior debt, working capital for start-up facilities, costs of issuance, feasibility studies, and reimbursement of qualifying prior expenses. For new-money projects, applicants must provide project details and applicable CEQA documentation. Public-works projects must comply with California prevailing-wage requirements where applicable.
The application requires the proposed par amount and use of proceeds, three recent audited financial statements (unless available through EMMA), Application Certification, Pass-Through Savings Certification, Legal Status Questionnaire, Community Service Certification, and Iran Contracting Act Certification for underwriters, plus the financing structure, sources and uses, amortization, financing timeline, ratings information when applicable, and a financing-team distribution list. Bond counsel and any municipal advisor or underwriter must be in the applicable State Treasurer’s Office approved pools.
CHFFA currently charges no application fee. Program fees apply at closing and annually according to borrower type and outstanding bond amount. Applications may be submitted electronically to chffabond@treasurer.ca.gov; CHFFA program questions may be directed to chffa@treasurer.ca.gov or (916) 653-2799.
Atlas rates this opportunity 92/100. N9+ fit is conditional at 96/100 because qualifying bond proceeds may finance the purchase or lease of equipment, but only as part of a borrower-defined capital financing that meets CHFFA credit, tax-exempt financing, project, procurement, clinical, and legal requirements. Dr. Miltie/QC Healthcare is a potential vendor or project partner only, not the CHFFA borrower. Do not advance outreach without a verified live capital/equipment financing need and borrower readiness.