Overview
The Virginia Pooled Financing Program (VPFP) is a general municipal pool program that provides Virginia local governments with efficient public debt market access to finance or refinance essential projects at competitive interest rates. Through the VPFP, VRA sells municipal bonds and then loans the proceeds to local governments, which benefit from VRA’s strong credit ratings, competitive interest rates, and straightforward application process.
The VPFP offers loan structuring flexibility, while allowing localities to finance or refinance multiple different project types through a single transaction. The VRA team manages all aspects of the bond issuance process and guides applicants to and after loan closing.
VPFP Value-Added Benefits
- Competitive “AAA/AA” market interest rates
- Customized loan terms and amortization structures
- Economies of scale through shared costs of issuance among pool participants
- Streamlined, efficient application and loan closing process
- Loan terms up to 30 years
- Dedicated loan servicing and administrative support throughout the life of the borrowing
- Reliable and consistent market access (2-3 issuances per year at a minimum)
Additional Information
Upcoming Application Deadlines
Spring Application Deadline: February 7, 2025
Summer Application Deadline: May 1, 2025
Fall Application Deadline: August 1, 2025
