Program Name: Healthcare 501(c)(3) Bond Program
Organization: Illinois Finance Authority / Illinois Climate Bank
Address: 160 N. LaSalle St.
Suite S-100 S
Chicago, Illinois 60601
Phone: (312) 651-1300
Fax: (312) 651-1350
TDD: (800) 717-6066
Application Deadline: Finalized application and other required deliverables are due no less than two weeks prior to monthly scheduled Board Meeting at which the application is to be considered.
Program Start Date: On-going
Program End Date: On-going
Application Guidelines: Application Guidelines: Information about the Healthcare program can be found on the Authority’s website at Please reach out to the Authority’s Healthcare Team,
Sara Perugini, 312.651.1340, or Chris Meister, 312.651.1310, to inquire about the application process.
Briefly Describe the Purpose of the Program:
The purpose of the Healthcare 501(c)(3) Bond Program is to create access for eligible 501(c)(3) facilities to federally tax-exempt bonds issued through public long-term credit markets, bank direct purchases and private placements. Types of 501(c)(3) facilities eligible for the program include: hospital systems, medical centers, stand‐alone hospitals, community providers of behavioral healthcare, and continuing care retirement communities located in Illinois.
Year Program Established: The Authority was established in 2004
Eligibility Requirements or Restrictions:
Applicants must be 501(c)(3) entities and must comply with the Authority’s statutory requirements, policies and procedures and Bond Handbook requirements.
Funding Cap Per Application or Fiscal Year Program Funding: Varies
How Must Funds Be Used:
Funds can be used for qualified purposes which may include, but are not limited to, capital projects (construction/renovation of facilities), equipment acquisition, acquisition of land/buildings) or to refinance existing debt.