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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Board of Directors
Tommy Perry
Chair
Mayor Pro Tem, Priceville
Rusty Jessup
Vice-Chair
Mayor, Riverside
Gary Fuller
Mayor, Opelika
Scott Reeves
Mayor, Hokes Bluff
Sherry Sullivan
Mayor, Fairhope
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.
Who is eligible to apply for a loan through AMFund? Any authorized representative of a municipality in Alabama.
How much or how little can be borrowed? We have facilitated loans for police vehicles to major brick and mortar projects.
What are the loan rates? Loan rates will vary depending on the situation, the loan amount and the credit standing of the applicant. Rates are generally within a few points of the market.
Does AMFund loan the money? No. AMFund reaches out to financial institutions around the Southeast to find the best rate for each loan.
Was your question not answered in the FAQs above? Email Your Question Here
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AMFund Application
To apply for an AMFund loan -
- Complete the application at the link below and print it out.
- Include one unbound paper copy of your audited financial statements for the last three years.
- Mail or fax the completed application and the financial audits to:
Richard Buttenshaw, AMFund President
P.O. Box 1270
Montgomery, AL 36102 Fax (334) 386 - 8170
It really is that simple!
Fill out the application here
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