CEFA Bond Financing Program

About this program

The California State Treasurer’s Office offers the CEFA Bond Financing Program, providing access to low-interest capital markets through tax-exempt and taxable revenue bonds. Financing may support construction, renovation, land and equipment acquisition, debt refinancing, and related issuance costs, with amounts of up to $5 billion and maturities typically extending to 40 years. Eligible applicants are WASC-accredited, private nonprofit, degree-granting postsecondary institutions located in California or operating accredited California facilities, with at least three years of operations and audited financial statements. Institutions must offer broad secular curricula and demonstrate sufficient revenue or collateral to cover debt service; applications are accepted on an ongoing basis.