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How Do We Serve Public Schools?
The State of Michigan has created several mechanisms which provide access to effective, low-cost financing to Michigan's public schools.
By reducing the financing costs for public schools through tax-exempt bonds, the educational costs for the residents of Michigan will also be reduced.
Please see below for specific program information. In addition, we have compiled a list of helpful links pertinent to Michigan public schools. |
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Public School Districts
• School Bond Qualification and Loan Program (SBQLP) Qualified bonds provide school districts with access to the State's credit rating, which will usually result in a lower interest rate and cost, and the ability to borrow for the principal and interest requirements on outstanding qualified bonds (subject to a minimum debt millage). | • State Aid Note Program The State Aid Note Program offers a simplified borrowing process for schools to fund short term cash flow needs for operating purposes. | • Local Government Loan Program Provides competitive interest rates for 3 to 30 year loans. Typically, tax exempt bonds or installment purchase contracts are issued under this program. |
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Public School Academies
• State Aid Note Program Provides borrowers with a low-cost, short-term financing option. The State Aid Note (SAN) Program for PSAs offers a simplified borrowing process to fund cash flow needs for operating purposes. While this loan program is similar to the program available to public school districts, the MPEFA SAN is designed to address the specialized needs of PSAs. | • Long-Term Financing Provides an effective, low-cost, facilities financing option to finance: land, facilities, equipment, energy conservation improvement or to refinance existing debt. |
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Contact Bond Finance Location: Austin Building, 1st Floor
(Formerly Treasury Building) 430 W. Allegan Lansing, MI 48922
Mail: P.O. Box 15128 Lansing, MI 48901
Phone: (517) 335-0994 Fax: (517) 241-9509 |
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