The Authority’s “Bank Purchase” program for nonprofit 501(c)(3) organizations in Oregon has been developed with an eye toward making it easy to understand and efficient for the borrower to use. The Bank Bond Purchase program is specifically designed as an efficient program for complex bond transactions that don’t quite fit within the SNAP Bond program.
Two features of these loans make them especially attractive:
1. The bonds are sold to a commercial bank or other bank lending institution.
2. The program utilizes the bank’s own loan documents to facilitate document preparation and review.
The Bank Bond Purchase program involves a partnership between the nonprofit, a lending bank, and the Authority. Most nonprofit organizations have an excellent banking relationship with their commercial bank that includes cash accounts and possibly even loans at taxable interest rates. The goal of this program is to expand on that relationship by enabling the bank to provide you with lower-cost, tax-exempt financing through the Authority.