Short-Term Financing

The MFA provides short term financing under various pieces of legislation to help local governments with their cash flow needs. We offer several types of loans depending on what category of local government you are. Funds can be accessed at any time during the year once the appropriate documentation has been submitted, your loan has been approved and you have submitted an executed loan agreement and corresponding demand promissory note. The time required before a loan is approved or an advance can take place is dependent on what type of loan you are applying for as some loans require more detailed analysis before they can be approved.

Short term loans are direct obligations of the local government requesting the funding. In the case of a municipality, it does not have to seek consent of their regional district to participate in short term borrowing which is the case for long term borrowing.

There are no fees to set up a short term loan.  Interest is calculated daily, compounded monthly and automatically collected the 2nd business day of the following month. Payments of principal can be made by direct deposit, wire, cheque, or by EFT (by request). Each loan has a detailed statement of advances, repayments and interest owing with participants accessing their statements by logging into their account.

The MFA raises money weekly in the Commercial Paper market to fund loan requests. This allows our members access to low cost funding and the flexibility to borrow and repay on short notice.  Funds can be accessed on the same day for amounts less than $5 million (provided notice is given prior to 10:30 a.m.). For amounts between $5 million and $10 million, please allow three days notice, and for amounts in excess of $10 million five business days’ notice is required. Loans can be repaid at any time without notice or penalty.


Administering your short-term financing loan:

Click here to learn how to apply!

Apply for a Short-term Loan Request for Advance Liability Servicing Limit
Municipality All Entities Municipality
Regional District    
Regional Hospital District    

For Sample Bylaws click here.  The Ministry of Municipal Affairs and Housing has reviewed all sample municipal and regional district bylaws that are provided on our website. Questions regarding the construction and wording of bylaws can be directed to your Advice and Approvals officer at the Ministry. The Ministry provides a summary of the contacts available on their website.

Anything you're not sure of? Check out our commonly asked questions.

For short-term financing inquiries email.

Tools / Resources

Find status of loans, issue highlights, amortization schedules and historical rates.

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Credit Reports

Every year the MFA presents to 3 credit rating agencies to access the lowest rate possible for our clients.  Here are their findings.

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Annual Reports