About Us
The Montana Facility Finance Authority, created by the 1983 Legislature and administratively attached to the Department of Commerce, is governed by a seven member quasi-judicial board. Board members are appointed to four year terms by the Governor with the advice and consent of the Senate. The Authority was created to assist facilities in containing future costs by offering debt financing or refinancing at low-cost, tax-exempt interest rates for buildings and capital equipment. These cost savings are shared with the consumer in the form of lower facility charges. The Authority's operational costs are funded by fees charged to the borrowers, no public funds or tax monies are appropriated to the Authority.
Most non-profit care facilities, including hospitals, nursing homes, assisted living facilities, residential homes for persons with developmental or mental disabilities, and pre-release facilities are eligible to participate in the programs offered by the Authority.
The Authority's financing process is designed to meet the diverse capital needs of Montana's eligible facilities and will commence after an applicant has met the eligibility requirements.
The objectives of the financing programs are:
- To encourage the timely construction and reconstruction, including the purchase of equipment, of facilities;
- To encourage safe, secure and well-equipped facilities;
- To access the broadest range of capital financing options; and
- To secure the lowest cost capital.
Contact: Michelle Barstad, Executive Director
