GE Government Finance underwrites transactions for its own direct investment, providing its customers with maximum loan flexibility at minimum cost. Furthermore, because we do not underwrite loans for eventual public sale, our customers avoid the liabilities associated with the legal disclosure required of a public issuance of securities. GE Government Finance's customers find comfort knowing that we are a highly-rated financial institution able to provide low cost financing and assess the risks of any transaction we elect to underwrite.

Our process

Step 1. Structuring - A GE Government Finance sales representative meets with you to structure a tax-exempt financing proposal that will meet your organization’s needs. The sales representative will help you identify the appropriate contacts at the governmental entity involved in issuing the tax-exempt bond.

Step 2. Credit approval - Once GE Government Finance receives your acceptance of the proposal, it will conduct an investment review and, if approved, issue a written confirmation of GE Government Finance's interest.

Step 3. Bond documentation - Same as Step 3 in the Bond Issuance Process section.

Step 4. Closing - Same as Step 4 in the Bond Issuance Process section.

Governmental approval process

The governmental entity’s approval process for issuing a tax-exempt obligation and GE Government Finance’s credit review will take place concurrently. The issuing process may vary by governmental issuer, but at a minimum, the process includes the following steps.

Bond issuance process:

Step 1. Application - The governmental entity (conduit issuer) that will issue the obligation approves your organization’s application for tax-exempt financing for the capital project by adopting a formal resolution during a regularly scheduled meeting.

Step 2. Public hearing - Federal tax law requires that the general public has the right to comment on the proposed financing at a public hearing. Public notice of the meeting must typically be published 14 days in advance of the scheduled meeting date.

Step 3. Bond documentation - Bond counsel or our counsel prepares bond documentation acceptable to the governmental issuer, your organization and GE Government Finance.

Step 4. Closing - The proceeds from the obligation are typically funded into an escrow account and drawn down as needed. Interest earnings on the escrowed funds accrue to the benefit of your organization.