Equipment Financing

Equipment Financing Program

The MFA has a new equipment financing program that takes the place of our former Leasing program.  Loans under this short term borrowing program will be available to both regional districts and municipalities under section 175 of the Community Charter – Liabilities under agreement.  Equipment Financing loans will be available to school districts under the School Act and to Colleges and Universities under the College and Institute Act, the University Act, or, if appropriate, under separate legislation for the institution.


  • Low interest rates based on the CDOR rate

  • No fees or taxes

  • Local Government retains ownership of asset

  • Extra principal payments may be made at any time

  • Online schedule of monthly principal / interest payments available


  • 1 - 5 year agreements. Municipalities and Regional Districts must go through the Alternative Public Approval Process for an amortization period of over 5 years.For further information on the Alternative Approval Process, please consult the Community Charter (sections 84 - 86, 94, 175).

    • 1 – 5 years:no public approval needed

    • 5 – 10 years:public approval needed

    • Over 10 years:public approval AND prior approval by MFA required

  • Variable interest rate with fixed payment schedule

  • Interest for the month is calculated on the last day of the month, monthly principal and interest payments taken by EFT on the second business day of the next month

See the Equipment Financing Memo for an outline of how this new program differs from our former Leasing program.

For for equipment financing enquiries please email us.



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