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Growing Resiliency Nonprofit Strengthening Webinar Series – Second in Series: Understanding CalCAP for Small Business
Sep 30, 2020 @ 11:00 am - 12:00 pm
In response to the urgent needs expressed by Kern’s nonprofit community in a recent survey conducted by Kern Community Foundation, we are offering a Nonprofit Strengthening Webinar Training Series called “Growing Resiliency” to help sustain our nonprofit partners through the COVID-19 crisis and beyond.
The second installment of our series introduces a unique capital access program chaired by the California State Treasurer that encourages banks and other financial institutions to make loans to small businesses (including nonprofits) that might otherwise have difficulty obtaining financing.
Since 1994, CalCAP has been furthering community and economic development in a number of ways:
1) CalCAP helps small businesses, including nonprofits, that create jobs and improve the economy. The program insures loans for land acquisition; construction or renovation of buildings; start-up costs; capital projects; collateral support; and working capital.
2) Run by the California Pollution Control Financing Authority (CPCFA), CalCAP offers specialty financing programs targeted toward creating more charging stations for electric vehicles; helping at-risk small businesses with federal Americans with Disabilities Act (ADA) compliance; assisting small businesses and property owners with seismic retrofit financing; and enabling small fleet owners to purchase trucks that are California-emissions compliant.
3) It helps lenders by providing up to 100% coverage on certain loan defaults. Lenders that participate in CalCAP have available to them a proven mechanism to help meet the financing needs of California’s small businesses.
Janae Davis, CPCFA Deputy Executive Director, will share information on CalCAP for both potential borrowers and lenders–as the program is seeking to expand assistance to small businesses as well as its network of lending institutions in Kern County during these challenging times.