Small Bond Program
Manufacturing companies and certain not-for-profit organizations with financing needs of $3 million or less may qualify for the IFA's Small Bond Program. The Program offers reduced time frames, reduced fees and less paperwork to qualifying projects. Smaller companies may find it easier to access the tax-exempt market with the IFA's Small Bond Program, where banks purchase and hold the bonds. IFA recommends that you contact your lender to determine if this program is right for you.
Fees
A $3,000 non-refundable application fee, payable to the Indiana Finance Authority, must accompany all manufacturing and not-for-profit bond applications. The $3,000 includes the application fee, issuer's counsel fee, closing fees and all other costs of the Authority. It does not include Volume Cap fees.
Program Highlights
- Financing of $3 million or less
- Manufacturing or 501(c)(3) projects
- Bank negotiates the terms, including interest rates
- Interest rates range from 80% to 85% of prime rate
- Very low cost of issuance
Application Information
Forms
For Small Bond Program forms, contact:
Cindy Herron at (317) 233-4335 or cherron@ifa.in.gov
Notices of Issuance
Relevant Links
Stay Connected
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- Certify my business for tax-exempt financing.
- Issue bonds for a manufacturing project worth more than $3 million through the IFA.
- Issue bonds for a manufacturing project for less than $3 million through the IFA.
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