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SIDA Not-for-Profit Bond Financing.

SIDA can issue double tax-exempt bonds for qualifying 501(c)(3) fixed-asset projects in Randolph County.

Offered bySouthern Illinois Economic Development Authorityverified 2026-07-10

Overview

What it does.

Eligible nonprofit borrowers can finance facilities, land, rehabilitation, and equipment through a lender-backed SIDA bond. The official page identifies specific nonprofit sectors and requires the capital improvements to occur within SIDA territory.

Best for: A substantial nonprofit health, care, education, or community-facility capital project in Chester.

Eligibility

Who and what may qualify.

Eligible applicants

  • Qualifying 501(c)(3) organizations with eligible fixed-asset projects in SIDA territory, including specified health, care, education, and YMCA borrowers

Applicants excluded by the source

  • Organizations without qualifying 501(c)(3) status
  • Projects outside SIDA territory

Eligible uses

  • Facility construction
  • Land acquisition
  • Qualifying acquisition and rehabilitation
  • New equipment

Uses excluded by the source

  • Costs incurred too early to qualify
  • Uses outside the bond and tax requirements

Application

How to start.

  1. Contact SIDA before incurring project costs.
  2. Confirm that the organization and project type qualify and secure lender interest.
  3. Submit the official bond application, supporting documents, and fee.

Timing: Board review is required; early contact is essential.

Planning notes

Limits to account for.

  • The borrower and project must fit the published 501(c)(3) eligibility.
  • Costs incurred more than 60 days before initial approval may be ineligible.
  • SIDA publishes a $2,000 application fee, a 40-basis-point issuance fee for not-for-profit issues, and additional professional costs.

Coordinate any grants, tax credits, or other debt with SIDA, lender, bond counsel, and tax advisers.

Evidence

Official sources.