The Process
- Submit an inquiry about your financing needs and a member of the Indiana Bond Bank will follow up to provide you a commitment-free preliminary quote with estimated rates and cost of issuance.
- If the terms in the preliminary quote are satisfactory to your entity, the Indiana Bond Bank will send you an application to be submitted.
- Your application will then go through a credit review by the Indiana Bond Bank's municipal advisor.
- The Indiana Bond Bank structures the debt to determine the repayment schedule, interest rate and any reserve accounts, if applicable.
- With the Indiana Bond Bank, you select a closing date on which to receive funds.
- Applications are accepted on a rolling basis.
Community Funding Resource (CFR) Program Monthly Timeline
| CFR Application Materials Due to Bond Bank | IBB Board Meeting | Closing and Funds Distribute | |
|---|---|---|---|
| November 2025 | October 29, 2025 | November 19, 2025 | December 16, 2025* |
| February 2026 | January 21, 2026 | February 11, 2026 | March 5, 2026 |
| March | February 18, 2026 | March 11, 2026 | April 2, 2026 |
| April | March 25, 2026 | April 15, 2026 | May 7, 2026 |
| May | April 22, 2026 | May 13, 2026 | June 4, 2026 |
| June | May 20, 2026 | June 10, 2026 | July 1, 2026 |
| August | July 22, 2026 | August 12, 2026 | September 3, 2026 |
| September | August 19, 2026 | September 9, 2026 | October 1, 2026 |
| October | September 23, 2026 | October 14, 2026 | November 5, 2026 |
| November | October 28, 2026 | November 18, 2026 | December 15, 2026 |
| *The closing date for the Community Funding Resource (CFR) Bonds related to projects approved at the Bond Bank's November 19, 2025 meeting has been moved from Friday, December 12, 2025 to Tuesday, December 16, 2025. |
Examples of CFR Projects
- Police and Fire Stations
- Community Buildings
- Schools and School Facilities
- Library Buildings and Improvements
- Parks and Recreation Facilities
- County or Municipally Owned Hospitals
- Roads, Bridges, Sidewalks, Trails, and Related Infrastructure
- Broadband Infrastructure
- County or Regional Jails, Correctional Facilities and/or Rehabilitation Facilities
Common Questions
We have answers! If not covered here, please reach out.
- What is the purpose of the Community Funding Resource (CFR)?
The CFR program provides local governmental units with an alternative financing tool for infrastructure and other related projects. The CFR is for cities, towns, school corporations, townships, libraries, counties and other local governmental units.
- What type of projects are eligible for Community Funding Resource?
The CFR program was designed for public projects including but not limited to construction of public building (e.g. fire station, police station, city/town hall), equipment purchase, public facility addition/rehabilitation, gap financing and more. Please fill out an inquiry below or email bondbank@inbondbank.com.
- Is the Bond Bank’s CFR a grant or loan?
The CFR is a loan that is paid back in full plus interest through a third party.
- What can be the source of repayment for the CFR?
Entities can borrow against, property taxes, utility revenues, income taxes, TIF and other revenue sources. Please contact your Municipal Advisor to structure the financing that works best for your entity.
- When are funds available for the program?
Funds are available on approval of application, which are accepted on a rolling-ongoing basis.
- What is the maximum financing term for CFR?
The Bond Bank can finance your project for up to 25 years through CFR.
- Is there a limit to the amount you can borrow?
All loans are subject to review. If you intend to apply for a loan greater than $10,000,000 please contact the Bond Bank. Also, if you have an existing CFR Loan, please contact the Bond Bank before you apply.
- What is the process to participate?
Included in your CFR packet are step by step instructions for participation, including completing a credit application and receiving local approvals. A Municipal Advisor can assist you with those items. The Bond Bank is also happy to provide assistance as well. Please contact bondbank@inbondbank.com or complete an inquiry form below to receive a packet.
- Do I need a Municipal (Financial) Advisor to participate in CFR?
Yes. Please contact the Bond Bank if you do not have a Municipal Advisor. The Municipal Advisor will guide you through the process of receiving funding through the CFR program.
- Do I need bond counsel to participate in the CFR?
Yes. Please contact the Bond Bank if you do not have Bond Counsel. Bond Counsel will provide the legal documents for your governing body to adopt in order to participate in the CFR program.
- What is the fee to participate in the CFR Program?
There is a $30,000 fee for loans up to 10 years. The fee for loans over 10 years is $35,000.
