Alabama Municipal Funding Corporation (AMFund)

About Us

AMFund was developed by the Alabama League of Municipalities to assist Alabama's cities and towns in funding local projects, equipment purchases and refinancing existing debt. The purpose of AMFund is to provide timely, low-cost, direct bank debt financing to fund almost any size municipal project.

Municipal Leagues in a number of other states, including Kentucky, Florida, Georgia and Tennessee, operate similar programs for their members. As with these programs, AMFund is able to take advantage of the economies of scale, allowing municipalities to:

• Receive competitive, fixed rate debt financing regardless of project size.
• Significantly reduce borrowers' transaction costs.
• Minimize staff time by using straightforward, direct bank debt loan documentation.

Thornton Farish Inc. serves as AMFund's financial advisor to assist municipalities in AMFund's direct bank debt financing process.

Our AMFund Team is ready to assist you with any questions you may have. All inquiries are confidential.

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AMFund Staff

Board of Directors

FAQs

AMFund was created to assist Alabama's cities and towns to obtain affordable financing for almost any size municipal project. If you are considering AMFund as financing for your project, look over our Frequently Asked Questions below. If your question is not answered below, feel free to email us with questions regarding your particular situation.

What is AMFund?
 AMFund is a direct bank lending program administered by the Alabama League of Municipalities assisting Alabama municipalities in obtaining timely low-cost financing for any eligible project.

Who may apply? 
Any municipality within the state of Alabama.

What projects are eligible?
Any local projects are eligible including equipment purchases, brick and mortar projects, debt refinancing, etc.

How much funding can be requested?
AMFund does not have a minimum or maximum loan amount that can be requested.  AMFund will work with the applicant to determine the appropriate amount of funding needed to finance the projects being considered.

What are the terms of the loan?
Terms of a loan will vary depending on the market, loan amount, and credit of the applicant.  AMFund will assist the applicant in selecting a bank offering the lowest fixed-rate available.

How many applications may be submitted?
Multiple applications can be submitted in a calendar year.

Who is responsible for the engineering of the project?
The applicant is responsible.

Who is responsible for letting the project?
The applicant will let, accept bids, and award contracts.

What is the timeline of an AMFund loan?
Generally, AMFund’s goal is 60-90 days from the date of receiving an application to closing of a loan.

How do I apply?
Applicants may apply to AMFund by submitting a complete and accurate application. The application can be found below.

Was your question not answered in the FAQs above? Email Your Question Here