CHFFA Commercial Paper Program

About this program

The California State Treasurer’s Office, through the California Health Facilities Financing Authority, offers the CHFFA Commercial Paper Program to provide low-interest, tax-exempt or taxable commercial paper financing for health facility capital projects, acquisitions, refinancing, equipment, and certain working capital needs. Financing is available on an ongoing basis, with amounts ranging from $1 to $5 billion and no matching funds required.

Eligible applicants are nonprofit 501(c)(3) organizations or public health facilities, such as district hospitals, that have operated for at least three years while providing the same services. Applicants must demonstrate fiscal soundness, submit three years of audited financial statements and a detailed project description, and obtain a short-term credit rating of at least A-1/P-1/F-1 from a nationally recognized rating agency.