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CA Infrastructure and Economic Development Bank (IBank) Finance Programs
- The State of California created the California Rebuilding Fund to to bring together funding from private, philanthropic and public sector sources – including an anchor commitment from IBank – to address the needs of small businesses as they re-open and recover from the COVID-19 health and economic crisis.
- The State of California is allocating $50 million to the Small Business Finance Center at California’s IBank to mitigate barriers to capital for those small businesses (1-750 employees) that may not qualify for federal funds (including businesses in low-wealth and immigrant communities). The $50 million allocation will be used to recapitalize the IBank Small Business Loan Guarantee Program.
- Disaster Relief Loan Guarantee Program: This disaster program provides guarantees for loans of up to $50,000 for small business borrowers in declared disaster areas.
- Contact IBank by email.
California Capital Access Program (CalCAP) (1-500 employees)
- CalCAP is a loan loss reserve program which may provide up to 100% coverage on losses as a result of certain loan defaults. Individual borrowers are limited to a maximum of $2.5 million enrolled over a 3-year period. Contact a Participating Lender to enroll.
- To contact the California State Treasurer’s Office:
- Email CalCAP
- Call: 916-653-2995
Cal-OSBA – Small Business Assistance & Resources
- California’s network of small business support centers help businesses figure out which loans are best for them, develop resiliency strategies, and find other resources. Click here to learn more.
- If you need to talk to a specialist in GO-Biz’s Office of the Small Business Advocate directly, please contact the team.
- Click here for a list of free or discounted technology tools for small businesses.
California Entrepreneurship Task Force
- The California Entrepreneurship Task Force has launched a series of Rapid Response Virtual Sessions to engage with fellow small business owners and entrepreneurs across our state. More details here.
L.A. CARES Corps
L.A. CARES Corps is a partnership between the City and County of Los Angeles to provide small businesses with the help they need to apply for federal loans under the CARES Act.
Small business owners can find a clear explanation of the emergency loan programs and access applications on the L.A. CARES Corps website. There is also a dedicated call center at (833) 238-4450, where SBA trained counselors can offer live assistance in completing applications.
L.A. COVID-19 Relief Fund
In response to the devastating effects that COVID-19 is having on the local economy, the County of Los Angeles and the City of Los Angeles, in partnership with institutional and corporate philanthropy, have come together to create the LA Regional COVID-19 Recovery Fund. The regional fund will offer loan and grant resources to micro-entrepreneurs, small businesses, and non-profits. Click here for more information and to apply.
Small Business Microloan Program
The City of Los Angeles launched the Small Business Emergency Microloan Program, which includes $11 million in financing to help strengthen local businesses affected by the coronavirus outbreak. The program stopped taking applications in Sept. 2020, but users can explore microloan progress on the Controller’s Small Business Emergency Microloan Program Tracker below or here.