The 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. All Michigan units of local government and public entities are eligible to apply.

Loans have included:

• Purchases of equipment
• School buses
• Fire trucks
• Real property
• Energy conservation improvement
• Infrastructure needs
• Refunding existing debt

Borrowers can pledge state aid as security for the loans and also have the option of using their own investment credit or bond insurance.

The rates for the Local Government Loan Program will vary depending on the loan period and of type of loan:

• Insured Bonds
• Local Project Bonds
• School Program Bonds
• Transportation Fund Bonds
• Revenue Sharing Bonds

Program Information

• MFA Credit Criteria
• Shared Credit Rating Act (P.A. 227 of 1985)

Please contact MFA for detailed information.

Austin Building, 1st Floor
430 W. Allegan
Lansing, MI 48922

Phone: (517) 335-0994

Fax: (517) 241-9509

www.michigan.gov/mfa
TreasMFA@michigan.gov