Churchill Stateside Group Offers Private Tax-Exempt Loan Financing for 4% LIHTC Developments

The P-TEL program provides developers with a streamlined, single-source financing structure from construction through stabilization.

Published on Feb. 19, 2026

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Churchill Stateside Group (CSG) is highlighting its Private Tax-Exempt Loan (P-TEL) financing platform, an established construction-to-permanent debt solution designed for 4% Low-Income Housing Tax Credit (LIHTC) developments utilizing tax-exempt bonds. The P-TEL program provides developers with a streamlined, single-source financing structure from construction through stabilization, pairing tax-exempt interest rates with long-term, fixed-rate permanent financing.

Why it matters

Affordable housing developers often face challenges navigating tax-exempt bond transactions and securing long-term, non-recourse debt. CSG's P-TEL platform aims to provide developers with certainty, efficiency, and execution in today's affordable housing environment.

The details

The P-TEL program offers a construction-to-permanent loan structure with draw-based funding, interest-only payments during construction, floating-rate construction financing converting to fixed-rate permanent debt, permanent rates locked prior to construction closing, and long-term, non-recourse permanent financing. P-TEL financing is available for the new construction and substantial rehabilitation of affordable housing communities that meet applicable LIHTC and tax-exempt bond requirements.

  • Churchill Stateside Group announced the P-TEL financing platform in February 2026.

The players

Churchill Stateside Group

A company that serves the affordable housing and renewable energy industries, providing tax credit equity investment funds, construction, permanent, and bond financing solutions.

Dan Duda

The Executive Vice President and National Director of Originations & Acquisitions for Churchill Stateside Group.

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What they’re saying

“Developers need certainty, efficiency, and execution in today's affordable housing environment. Our P-TEL platform is a proven solution for navigating tax-exempt bond transactions while securing long-term, non-recourse debt.”

— Dan Duda, EVP, National Director of Originations & Acquisitions (BusinessWire)

What’s next

Developers interested in the P-TEL financing can contact Production@CSGfirst.com or visit CSGfirst.com to discuss an upcoming 4% LIHTC development.

The takeaway

Churchill Stateside Group's P-TEL financing platform provides a streamlined, single-source solution for affordable housing developers navigating tax-exempt bond transactions and securing long-term, non-recourse debt, addressing key challenges in the current affordable housing environment.