Your cash flow projections determine  the amount you are eligible to borrow.  Typically, it is the lesser of  your projected larges cash deficit for the first six months or 80% of your net levy.

Most funds are paid on the last business day of the year depending upon how much is borrowed.  In some cases, there will be a payment due on the last business day of June.  All funds must be repaid in the same year that they were borrowed.

The IBB also provides a Midyear Funding Program for entities with cash flow deficits in the second half of the upcoming year.  The program timeline is below:

• Program applications are due April 17, 2026
• Cash Flows are due April 24, 2026
• Program is closed and funded on June 11, 2026

Applications and cash flow templates are provided in September of each year.  Complete both the credit application and cash flow worksheet for the funds anticipated to have a cash flow shortage, and submit to the IBB.  Once the submitted documents are reviewed, you will be notified of your borrowing capacity.

The IBB will provide note counsel and the legal documents for your Board to adopt.  Note counsel services are included in the overall interest rate.

Applications and cash flow worksheets can be submitted in October for the following calendar years Advance Funding Program.

This program is for entities with a cash flow deficit.  You can borrow from any property tax based fund or from tuition support for School Corporations.

The IBB provides savings by pooling your warrants with other entities.  Through the pooling process, the IBB will provide a very low "all-inclusive" borrowing rate.  Application and cash flow assistance is also available throughout the process.  By participating in the Advance Funding Program, entities are not required to publicly bid the financing of their respective tax warrants.

Funds are available at the end of January; however, the IBB can also provide interim funds on the first business day of the year.