St. Philip’s Academy

As a not-for-profit organization with limited access to capital, St. Philip’s Academy could appreciate the 25-year term and low interest rate on its financing made possible by the EDA’s issuance of tax-exempt bonds. read more

The EDA issues conduit tax-exempt private activity bonds, the proceeds of which are used to provide low-interest, fixed-asset loans. Borrowers must meet the eligibility requirements outlined in the Internal Revenue Code (IRC) in order to qualify. Taxable bonds are also available for a wide variety of businesses. Taxable bonds offer similar flexibility in structuring rates and terms but are not subject to the restrictions placed on tax-exempt financing under the IRC. Click here for more information.