MFFA June Newsletter

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Montana Facility Finance Authority

June 2021 MFFA Newsletter

This past legislative session authorized the MFFA to become the state-wide administrator for a new financing program - Commercial Property Assessed Capital Enhancements or “C-PACE”. 

C-PACE is an exciting financing tool that allows property owners to secure 100% upfront financing for energy efficiency, water conservation, and renewable energy upgrades to commercial and multifamily buildings. The cost of these upgrades is repaid as an assessment on the property's annual tax bill. The annual energy savings for C-PACE projects are designed to exceed the annual assessment payment, so property owners save money from the start of the program. 

This is an exciting enhancement for Montana businesses and for us at the MFFA to administer. Stay tuned for more updates on C-PACE and if you're interested in become a program stakeholder or to learn more about the program, reach out to Seth Lutter at

Thank you!

--MFFA Staff

Financial Programs

Direct Loan Program (DL)

This staff-approved program offers low-interest loans for eligible projects including construction and renovation, facility acquisition, loan refinancing, and purchase of equipment and finance costs. The maximum loan size is $300,000, unless combined with a Trust Fund Loan which raises the maximum loan size to $500,000. To apply for a Direct Loan, click here

5 Year Term: 2.00%

7 Year Term: 2.15%

10 Year Term: 2.25%

Trust Fund Loan Program (TFLP)

Subject to Board approval, these low-interest financing offer terms of up to 20 years and a maximum loan size of $1.5 million. These loans can be combined with a Direct Loan for a total loan amount of $2 million. To apply for a Trust Fund Loan, click here

5 Year Term: 2.25%         

7 Year Term: 2.50%

10 Year Term: 2.75%   

15 Year Term: 3.01%

20 Year Term: 3.44%


The following financings were funded under this program this period:

Glendive Medical Center

$1,500,000; 2.50% for 7 years. Closed on 6/29/21.

Purpose: reimburse for CT and equipment upgrades.

Valley View Home

$900,000; 2.75% for 10 years. Closed on 6/29/21.

Purpose: refinance existing debt originally for its roof and a new boiler project.

Stand-Alone Bond Financings Program (SA)

These bonds are flexible and can be structured with fixed or variable interest rates and with or without credit enhancement and/or ratings. Public offering or private placement options are available, depending on the size of the deal. For more information, click here

The following financings were funded under this program this period:

St. Peters Health

$23,000,000; 1.84% for 10 years. Closed on 5/28/21.

Purpose: finance an electronic heath record upgrade.

Kalispell Regional Medical Center

$71,240,000; 2.55% for 20 years. Closed on 6/30/21.

Purpose: to refinance existing debt.

Master Loan Program (MLP)

Through an agreement with Board of Investments, this program provides low-interest, tax-exempt financing for smaller hospitals. Loans range from $1.5 million to $20 million, and can be marketed for more than one borrower at a time. For more information on the Master Loan Program, click here

MFFA Grants

Montana Capital Assistance Program (MCAP)

These grants are for small rural hospitals to finance Facility Master Plans, Capital Financing Plans and Scope of Services Review.  The maximum grant size is $15,000 with a required 10% match. For more information, click here