CHFFA Commercial Paper Program

State Treasurer's Office · State of California

At a glance

CHFFA Commercial Paper Program is an open California state loan opportunity from the State Treasurer's Office (State of California). Applications are accepted on an ongoing basis. Individual awards are listed as up to $5B, with $5B in total estimated funding. Applicant types listed as eligible include nonprofit and public agency. It is listed on the California Grants Portal. Cost sharing is not required.

Summary assembled from the official notice's fields. The official notice governs.

Key facts

Opened: Sep 13, 2023
Close date: Ongoing
Award floor: Not specified
Award ceiling: $5,000,000,000
Est. total funding: $5,000,000,000
Expected awards: Not specified
Matching funds: Not required
Funding instrument: Loan

Program details (as published on the California Grants Portal)

Type: Loan
Funding source: Other — commercial paper note debt issuance
Matching funds: Not Required
Funding method: Advances & Reimbursement(s)
Estimated number of awards: Dependant on number of submissions received, application process, etc.
Award period: Ongoing
Expected award announcement: Ongoing
Letter of intent: Not required
How to submit: Online: https://apply.treasurer.ca.gov/submit/f3572b12-4948-4a4c-a94a-1a04f3e69204/chffa-bond-financing-program
Latest change note: added more to description

Who can apply

Applicant categories as listed on the California Grants Portal. GrantsJunction maps them to detailed applicant types for search and matching.

Nonprofit
Public Agency

Additional information on eligibility (from the listing)

-Must be a health facility as defined in the Authority's Act (Section 15432(d) of the California Government Code) -Must be a non-profit 501(c)(3) corporation or a public health facility (e.g., district hospital) as defined in the Authority's Act (Section 15432(e) of the California Government Code)

Can your organization apply?

A quick check against the listed applicant types — other requirements in the notice still apply.

Based on the published notice. Review the official notice for complete eligibility requirements.

What it funds

Purpose and description as published on the California Grants Portal.

Purpose

This program will provide a borrower with access to low interest rate capital markets through the issuance of tax-exempt and taxable commercial paper notes.

Description

Eligibility General Requirements -Must be a health facility as defined in the Authority's Act (Section 15432(d) of the California Government Code) -Must be a non-profit 501(c)(3) corporation or public health facility (e.g., district hospital) as defined in the Authority's Act (Section 15432(e) of the California Government Code) -Must have been in existence for at least three years, providing the same types of services -Must demonstrate evidence of fiscal soundness and the ability to meet the terms of the proposed loan Use of Funds Funds may be used for: -Construction, remodeling, renovation, and/or improvements -Land acquisition -Acquisition of existing health facilities -Equipment and/or furnishings -Refunding of prior debt -Working capital for start-up facilities -Costs of bond issuances, feasibility studies & reimbursement of prior expenditures Loan Terms -Any commercial paper issued by Authority must receive short-term rating of at least A-1/P-1/F-1 by at least one nationally recognized rating agency -Must be issued in denominations of $100,000 -Final maturity date cannot exceed 40 years -Commercial paper application must include a detailed description of capital projects to be funded by proceeds Fees -No application fee -Initial fee of 0.05% of the issue amount (maximum $100,000) -Annual administrative fee; greater of $5,000 or 0.0175% of the maximum amount of notes outstanding during the billing year Required Documentation -Three most recent fiscal years of audited financial statements

Program page on the agency site ↗

How to apply

0 of 8 done · progress saved in this browser

Read the program guidelinesThe agency's solicitation or guidelines set eligibility details, scoring criteria and required documents. Open ↗
Confirm eligibility and fitCheck your organization type and location (applicants are generally expected to be in California).
Find out how to submitOnline: https://apply.treasurer.ca.gov/submit/f3572b12-4948-4a4c-a94a-1a04f3e69204/chffa-bond-financing-program Open ↗
Request letters of support and partner commitmentsPartners need time to write and sign letters; ask early.
Finish a full draft of the application and budgetFollow the guidelines' format exactly; state programs often require specific forms and attachments.
Ask the program contact any questions earlySummer Nishio · summer.nishio@treasurer.ca.gov Open ↗
Internal review and sign-offLeave time for leadership or board approval and a final proofread.
Submit while funds remainSubmit a few days early and keep your submission confirmation.

Past applications & awards

Historical data · not a prediction

Reported by the agency for this listing

Fiscal year 2026–271 application · 1 award
Fiscal year 2025–260 applications · 0 awards
Fiscal year 2024–250 applications · 0 awards
Fiscal year 2023–241 application · 1 award

Counts as published on the California Grants Portal. Award counts can read zero until decisions are announced.

Awards published: 1
Total awarded: $200,000,000
Median award: $200,000,000 calculated
Smallest – largest: $200,000,000 – $200,000,000

Recipients by type: Public Agency (1)

Areas served: San Mateo County (1), Santa Clara County (1)

Largest awards to organizations

Stanford Health CareCHFFA Commercial Paper Program$200,000,000 · FY 2023–24

Source: California Grants Portal grant award data. Awards to individuals are counted but not named. Past awards show who was funded; they do not predict future decisions.

Program contact (as published)

Summer Nishio
summer.nishio@treasurer.ca.gov
1-916-657-4037

Quick answers

Who is eligible to apply for “CHFFA Commercial Paper Program”?

The official listing names these applicant types as eligible: Nonprofit and Public Agency. It adds: “-Must be a health facility as defined in the Authority's Act (Section 15432(d) of the California Government Code) -Must be a non-profit 501(c)(3) corporation or a public health facility (e.g., district hospital) as defined in the Authority's Act (Section 15432(e) of the Californi…” Additional restrictions may apply; review the full guidelines.

How much funding is available through “CHFFA Commercial Paper Program”?

Per the notice, individual awards are listed as up to $5b and total estimated program funding is $5,000,000,000.

How do I apply for “CHFFA Commercial Paper Program”?

Applications go directly to State Treasurer's Office, not through GrantsJunction. Submission: online at https://apply.treasurer.ca.gov/submit/f3572b12-4948-4a4c-a94a-1a04f3e69204/chffa-bond-financing-program. Read the program guidelines on the agency's site first; state programs set their own forms and registration requirements.

Other open California state opportunities, matched on agency, categories and wording.

OpenState of California