An IBB Partnership with Indiana Economic Development Corporation

READI Match Financing Program

IBB READI logo

Has your community received a financial commitment from the Regional Economic Acceleration and Development Initiative (READI)? Are you interested in receiving affordable financing for your grant match requirement? Our READI Match Financing (RMF) Program is designed to offer financing through our Community Funding Resource Program framework, which offers direct financing for public projects with terms of up to 10 years.

Click HERE for an overview of the Program.

Click on the link below to request an application or ask a question.

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Benefits

What makes us different

Maximum Borrowing Amount of $1 Million
Terms up to 10 Years
No Public Credit Rating Required
Fixed Amortization for the Life of the Loan
Designed to Work in Partnership with IEDC's READI Program
IBB Readi Logo

The process

  1. You or your municipal advisor submit an application on behalf of your entity.
  2. Your application will go through a credit review by the Indiana Bond Bank's municipal advisor.
  3. The Indiana Bond Bank structures the debt to determine the repayment schedule, interest rate and any reserve accounts, if applicable.
  4. Your application is reviewed and approved by the IBB Board of Directors at the monthly board meeting.
  5. Closing date is dependent upon when your application is reviewed and approved. Current scheduled closing dates are July 31, 2024 and December 11, 2024.
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Guide

Common Questions

We have answers! If not covered here, please reach out.

What is the purpose of the READI Match Financing (RMF) Program?

The RMF program provides local government units with an alternative financing tool for infrastructure and other related capital projects. The RMF program is for cities, towns, school corporations, townships, libraries, counties and other local governmental units that have received a financial commitment from the Regional Economic Acceleration & Development Initiative (READI).

What types of projects are eligible for RMF?

The RMF 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.

Is the Bond Bank's RMF a grant or loan?

The RMF is a loan that is paid back in full.

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