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Frequently Asked Questions

Does the State of Connecticut use my tax dollars to fund CHEFA?

No, CHEFA is funded by an annual loan servicing fee charged to its borrowers.

Do you have driving directions to CHEFA?

Yes--please see our directions page for that information.

How do I apply for financing?

Please contact our New Business department for an application.


How do I submit a request for records pursuant to the Freedom of Information Act?

Freedom of Information Requests (FOI) are governed by Chapter 14 of the Connecticut General Statutes. Please refer to the state website for the "Freedom of Information Act" and a complete description of the FOI process and what is covered by the Act.

If you are interested in making an FOI request, your request must be made in writing, you must specify what you are looking for and you may be charged by CHEFA (as provided in the Act) for copies of documents. Your written request must be directed in writing to CHEFA FOI Requests, 10 Columbus Blvd., 7th Floor, Hartford, CT 06106 or via e-mail to

How long does it take to get a loan approved?

The financing process usually takes about three to six months from the commitment for credit enhancement.  For more information see our sample financing timeline.

How much does it cost to apply for financing?

CHEFA requires an upfront fee of $20,000 submitted with your application.  This fee includes a $5,000 application fee and $15,000 that will be applied to bond issuance costs at closing.

What impact will the bond insurance company downgrades have on my institution's ability to borrow?

It will probably result in higher insurance premiums charged by those insurers still underwriting municipal bonds and more restrictive bond issue covenants.

What is a TEFRA hearing?

It is a public hearing required by the IRS held before the Governor can approve the issuance by CHEFA of tax-exempt debt.  The hearing gives the public an opportunity to comment on the use of the tax-exempt funds by the borrowing institution to finance its capital needs.  For more information see our overview page on the TEFRA Process.

Who can I talk to about CHEFA issued bonds I have purchased?

Usually the trustee for the bond issue.  Please contact the client services department and they can provide you with contact information for the appropriate issue.