During the writ period (today until October 28, 2024), this website will be limited to information about emergencies and public safety concerns.
For details on immigration, visit Immigrating and Moving to Saskatchewan.
Get answers with our Frequently Asked Questions.

Pendant la période électorale (aujourd’hui jusqu’au 28 octobre 2024), ce site Web devra limiter ses publications uniquement à des renseignements sur les urgences et à des préoccupations en matière de sécurité publique.
Pour des renseignements sur l’immigration, visitez Immigrer et déménager en Saskatchewan.
Trouver des réponses en consultant la Foire aux questions (en anglais).

Google Translate Disclaimer

A number of pages on the Government of Saskatchewan's website have been professionally translated in French. These translations are identified by a yellow box in the right or left rail that resembles the link below. The home page for French-language content on this site can be found at:

Renseignements en Français

Where an official translation is not available, Google™ Translate can be used. Google™ Translate is a free online language translation service that can translate text and web pages into different languages. Translations are made available to increase access to Government of Saskatchewan content for populations whose first language is not English.

Software-based translations do not approach the fluency of a native speaker or possess the skill of a professional translator. The translation should not be considered exact, and may include incorrect or offensive language. The Government of Saskatchewan does not warrant the accuracy, reliability or timeliness of any information translated by this system. Some files or items cannot be translated, including graphs, photos and other file formats such as portable document formats (PDFs).

Any person or entities that rely on information obtained from the system does so at his or her own risk. Government of Saskatchewan is not responsible for any damage or issues that may possibly result from using translated website content. If you have any questions about Google™ Translate, please visit: Google™ Translate FAQs.

Municipal Financing Corporation of Saskatchewan

The Municipal Financing Corporation of Saskatchewan (MFC) assists in making capital funds available for the financing of:

  • sewer and water;
  • school;
  • hospital;
  • local improvement projects by municipalities;
  • local improvements by school divisions;
  • local improvements by health districts;
  • other essential construction.

MFC allows local authorities to minimize interest costs by offering extremely competitive interest rates and the ability to repay debt prior to maturity. In addition, MFC offers very flexible borrowing terms that can be customized to meet the needs of the project being financed.

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1. Prepayment Policy

  1. The Municipal Financing Corporation of Saskatchewan (MFC) requires formal written notice of a borrower's intention to prepay a debenture. The notice should be directed to the General Manager of the Municipal Financing Corporation of Saskatchewan. A minimum of 30 days notice is required, and MFC reserves the right to determine the prepayment date. Payment in full is due on the prepayment date.

  2. The price at which a debenture may be prepaid is calculated as the sum of:
    • all amounts of principal and interest due on or before the redemption date that have not yet been paid; plus
    • the higher of the remaining principal balance owing and the fair market value of the remaining principal amount of the debenture as determined by MFC.

  3. Barring extraordinary circumstances, MFC will not provide new financing to a borrower during the 12 month period following a prepayment of debentures.
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2. Programs and Services

All municipal governments, school divisions and health districts can borrow from MFC.

Benefits of borrowing from MFC

MFC allows local authorities to minimize interest costs by offering extremely competitive interest rates and the ability to repay debt prior to maturity. In addition, MFC offers very flexible borrowing terms that can be customized to meet the needs of the project being financed.

Loans from MFC can also be repaid prior to maturity, please refer our Prepayment Policy for details.

Process of borrowing from MFC

Before borrowing from MFC, local authorities require the approval of the Local Government Committee of the Saskatchewan Municipal Board.

After approval from the Local Government Committee of the Saskatchewan Municipal Board has been received, the following steps occur:

  • The local authority should contact MFC and request an "Application to Sell Debentures."
  • MFC reviews the completed application, and notifies the local authority of MFC's willingness to purchase its debentures, and the interest rate that MFC will charge. The local authority has a two week period to withdraw from the transaction.
  • The local authority works with the Saskatchewan Municipal Board to print a debenture.
  • The debenture is forwarded to MFC, and the local authority receives the proceeds of the loan.

MFC interest rate

MFC's interest rates depend on the term of the debenture and current interest rate levels. The interest rate is the sum of:

  • The Province of Saskatchewan's cost of borrowing; plus
  • A small amount to cover MFC's administrative costs.
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3. Annual Reports and Payee Listings

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4. Legislation

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5. Frequently Asked Questions

Who can borrow from MFC?

Municipal governments, school divisions and health districts can borrow from MFC.

What are the benefits of borrowing from MFC?

MFC allows local authorities to minimize interest costs by offering extremely competitive interest rates and the ability to repay debt prior to maturity. In addition, MFC offers very flexible borrowing terms that can be customized to meet the needs of the project being financed.

What is the process for borrowing from MFC?

Before borrowing from MFC, local authorities require the approval of the Local Government Committee of the Saskatchewan Municipal Board.

After approval from the Local Government Committee of the Saskatchewan Municipal Board has been received, the following steps occur:

  • The local authority should contact MFC and request an "Application to Sell Debentures."
  • MFC reviews the completed application, and notifies the local authority of MFC's willingness to purchase its debentures, and the interest rate that MFC will charge. The local authority has a two week period to withdraw from the transaction.
  • The local authority works with the Saskatchewan Municipal Board to print a debenture.
  • The debenture is forwarded to MFC, and the local authority receives the proceeds of the loan.

Can loans from MFC be repaid prior to maturity?

Yes. Contact us to learn about our Prepayment Policy.

What interest rate does MFC charge?

MFC's interest rates depend on the term of the debenture and current interest rate levels. The interest rate is the sum of:

  • the Province of Saskatchewan's cost of borrowing; plus
  • a small amount to cover MFC's administrative costs.

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