- The State of California maintains a Covid-19 website, which provides information and guidance to businesses and employers. See: https://covid19.ca.gov/.
Category: State
Financial Resources
- The California Capital Access Program (CalCAP)’s Loan Loss Reserve Program is providing 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 three-year period, see: https://www.treasurer.ca.gov/cpcfa/calcap/sb/index.asp and https://www.treasurer.ca.gov/cpcfa/calcap/sb/brochure.pdf. Qualifying small businesses should contact a participating lender to enroll, see: https://www.treasurer.ca.gov/cpcfa/calcap/sb/institutions.pdf.
- The California Small Business Disaster Relief Loan Guarantee Program will provide loan guarantees for up to 95% of the amount of a loan for up to 7 years, see: https://ibank.ca.gov/small-business/disaster-relief/ and https://www.ibank.ca.gov/small-business-finance-center/.
- To qualify, the entity must be located in California and either a nonprofit or a small business, employing at most 750 people, that has been negatively impacted or experienced disruption by COVID-19 or be an eligible nonprofit.
- Applications are done through participating lenders, and the loan interest rates and additional terms or qualifications are negotiated directly with the lender.