The Virginia Local Government Finance Corporation (VLGFC) is giving grants of $5,000 to each participant in the VML/VACo Fixed Rate Loan Program. VLGFC is the nonprofit corporation that oversees VML/VACo Finance, the financial services arm of the Virginia Association of Counties and the Virginia Municipal League. Due to the continued success of financing programs, the VLGFC Board of Directors voted to offer these grants as a way to reinvest surplus funds in local government clients.
Many Virginia local governments and authorities know the Fixed Rate Loan Program is a hassle-free way to get the best rates on cost-effective bank loans. Nationwide, bank loans have become the preferred alternative to municipal bond issues.
With the $5,000 grant, localities can –
Apply it toward closing costs such as bond counsel fees;
Repay the cost of planning or feasibility studies; or
Use it for any local priority – there are no strings attached.
Evaluating financing options or alternative loan structures? Take advantage of VML/VACo Finance’s staff experience in these areas.
VML/VACo Finance is a Municipal Advisor, registered with the SEC and MSRB.
VACo Contact: Dean Lynch, CAE