The SBFC helps businesses create and retain jobs, and encourages investment in low- to moderate-income communities. The SBFC has a Jump Start Loan Program, a Small Business Loan Guarantee Program, and a Farm Loan Program.
California Disaster Relief Loan Guarantee Program — COVID-19
The Small Business Finance Center (SBFC) partners with Financial Development Corporations to provide loan guarantees and direct loans for small businesses that experience capital access barriers.
Who Can Apply
- Small Businesses located in California with 1-750 employees that have been negatively impacted or experienced disruption by COVID-19
- Eligible Nonprofits
- Guaranteed up to 7 years; term can be longer
- Guarantees up to 85% – 95% of loan
- Loan interest rates negotiated between lender and borrower
- Qualifications based on lender criteria
Loan proceeds to be used for continuance of business including, but not limited to:
- Rent, payroll, etc.
How to Apply
Qualifying small business owners may apply directly with a lender (LIST to be announced soon) or get additional information by contacting one of the participating Financial Development Corporations (FDCs) from the list below.
Farm Loan Program
The Farm Loan Program supports direct loans to small farms through participating Financial Development Corporations (FDCs). Loans are 90% guaranteed by the U.S. Department of Agriculture, Farm Serviced Agency (FSA).
Who Can Apply
To qualify for an FSA Guarantee, a loan applicant must:
- Be a citizen of the United States (or legal resident alien), which includes Puerto Rico, the U.S. Virgin Islands, Guam, American Samoa, and certain former Pacific Trust Territories.
- Have an acceptable credit history as determined by the lender.
- Have the legal capacity to incur the obligations of the loan.
- Be unable to obtain a loan without a guarantee.
- Not have caused FSA a loss by receiving debt forgiveness on more than 3 occasions on or prior to April 4, 1996; or any occasion after April 4, 1996.
- Be the owner or tenant operator of a family farm after the loan is closed. For a Guaranteed Operating Loan (OL), the producer must be the operator of a family farm after the loan is closed. For a Guaranteed Farm Ownership (FO) Loan, the producer needs to also own the farm.
- Not be delinquent on any Federal debt
- Entities (corporations, cooperatives, joint operations, partnerships, trusts, and limited liability companies) and their members/stockholders must meet these same eligibility requirements. The farm must be located in California.
Use of Funds (partial list)
- Operating and production expenses
- Buildings, construction or repair
- Storage and drying facilities
- Purchase livestock
- Purchase seed, fertilizer
- Soil and water conservation
- Refinancing debt
Maximum Loan Size
The FSA can guarantee loans up to $1,399,000 (amount adjusted annually based on inflation).
How to Apply
Qualifying farm owners may apply for a loan or get additional information by contacting one of the following Financial Development Corporations (FDCs):
Small Business Resources:
Small Business Resource Map
1792 Tribute Road, Suite 270
Sacramento, CA 95815
221 Main Street, Suite 301
Salinas, CA 93901
2825 Dewey Road
Building 202, Suite 205
San Diego, CA 92106
300 Frank H. Ogawa Plaza, Suite 175
Oakland, CA 94612
271 N. Sycamore Street
Santa Ana, CA 92701
3255 Wilshire Boulevard, Suite 1501
Los Angeles, CA 90010
Voice: 213-739-2999, Ext. 222
7035 North Fruit Avenue
Fresno, CA 93711
*Participant in IBank’s Jump Start Loan Program
For more information contact:
Small Business Finance Center Manager
California Infrastructure and Economic Development Bank (IBank)
Office Address: 1325 J Street, Suite 1300, Sacramento, CA 95814
Mailing Address: P.O. Box 2830, Sacramento, CA 95812-2830