CHEFA Revolving Loan Fund Program
On Wednesday May 20, 2020, the CHEFA Board of Directors approved the creation of the CHEFA Revolving Loan Fund Program and the availability of $1M to provide low-cost financing to eligible CHEFA clients for working capital expenses. Such expenses may include general operating expenses, program expenses, non-capital equipment and supply purchases including PPE.
Financing is available to existing CHEFA clients who have less than $50M in outstanding CHEFA issued debt and child care facility providers with outstanding loans that were financed with State Supported Child Care Revenue Bonds. The Annual Funding Cycle Notices found below provide the terms of the loans, eligible borrowers and eligible uses of the loan proceeds.
For clients interest in financing, there is a streamlined application process. Applications can be found below. Applications will be accepted through May 1, 2021. Loans will be approved on a rolling first come-first serve basis.
|Funding Cycle Notice 2020A||91.25 KB|
|Funding Cycle Notice 2020B - Child Care Institutions||89.32 KB|
|Funding Cycle Notice 2020A Application||592.73 KB|
|Funding Cycle Notice 2020B Application - Child Care Institutions||614.02 KB|