Short-term financing for municipalities
Short-term financing for municipalities and how the short-term loan program works.
The Department of Finance and Treasury Board offers short-term loans to clients who have completed their capital projects and are waiting to participate in the next debenture issue.
The short-term loan program provides municipalities with the lowest possible cost by offering competitive interest rates.
Term
The financing term is from an agreed upon date – after the project is completed to the next Department of Finance and Treasury Board debenture issue.
Rate
The interest rate is the provincial cost of funds, which is determined when the request for short-term financing is made.
Application process
- Send a written request for short-term financing to the Department of Finance and Treasury Board.
- Make sure that a temporary borrowing resolution is in place.
You can use the Short Term Loan Template (PDF) for the written request. Or use the template as an example and prepare your own written request.