The California Health Facilities Financing Authority (CHFFA) Commercial Paper Program provides eligible California nonprofit and public health facilities access to short-term, low-cost capital markets through tax-exempt or taxable commercial paper notes. The California Grants Portal lists the program as active and ongoing, most recently updated July 30, 2026; no fixed application deadline, clock time, or time zone is published.
Eligible borrowers must qualify as a health facility under the CHFFA Act, be a nonprofit 501(c)(3) corporation or public health facility such as a district hospital, generally have operated for at least three years providing the same types of services, and demonstrate fiscal soundness and ability to meet the proposed financing terms. Commercial paper must receive an eligible short-term rating, generally supported by a bank credit/liquidity facility or qualifying self-liquidity.
Eligible uses include construction, remodeling, renovation and improvements; land and existing-health-facility acquisition; equipment and furnishings; refinancing of prior debt; qualifying working capital for start-up facilities; costs of issuance; feasibility studies; and reimbursement of qualifying prior expenditures. Commercial paper is issued in minimum $100,000 denominations. Individual notes typically mature within 270 days and may be rolled as part of an authorized program; the final financing maturity may not exceed the governing CHFFA authorization and applicable law.
The California Grants Portal reports an estimated $5 billion program amount, but that figure should be treated as portal-level financing capacity rather than a guaranteed borrower allocation. No grant-style matching requirement is listed because this is debt financing, not a grant; borrowers remain responsible for repayment, credit enhancement/liquidity, ratings, legal, tax, procurement and financing costs. The current portal listing states there is no application fee, an initial CHFFA fee of 0.05% of the issue amount up to $100,000, and an annual administrative fee equal to the greater of $5,000 or 0.0175% of the maximum notes outstanding during the billing year. Applicants must provide at least three recent fiscal years of audited financial statements and a detailed description of the capital projects to be financed.
Atlas rates this opportunity 90/100. N9+ fit is conditional at 95/100 because equipment and furnishings are expressly eligible, but the commercial-paper structure is designed for financially sophisticated, highly rated or liquidity-supported health systems with substantial short-term capital needs. Dr. Miltie/QC Healthcare may participate only as a legitimate vendor or project partner within an applicant-defined and approved equipment project; Dr. Miltie is not the eligible borrower. Do not initiate applicant outreach without a verified live capital/equipment need, borrower financing readiness, procurement context, recipient verification, Email Opt-Out review and global deduplication.
Authoritative sources: California State Treasurer CHFFA Commercial Paper Program materials and the California Grants Portal active program listing.