California Enterprise Development Authority (CEDA)
www.caled.org (916)448-8252, ext. 102 contact: Paula Connors
A business finance program offering lower interest rates and reduced upfront equity requirements for business expansion projects. Timely and hassle-free access to expansion capital for land, building, or equipment, long-term loans with no prepayment penalty, 10% - 20% low down payment, interest rates that are 20 – 30% below standard commercial lending rates. Available only through the CALED-sponsored California Enterprise Development Authority.
CalCAP – A Small Business Loan Program
(916) 654-5610
www.treasurer.ca.gov/cpcfa/calcap.asp
The California Capital Access Program (CalCAP) encourages banks and other financial institutions to make loans to eligible small businesses that fall just outside of most banks' conventional underwriting standards.
CalCAP is a form of loan portfolio which may provide up to 100% coverage on certain loan defaults. Loans can be used to finance the acquisition of land, construction or renovation of buildings, the purchase of equipment, other capital projects and working capital.
The maximum loan amount is $1.5 million. The maximum premium CPCFA will pay is $100,000 (per loan). Lenders set all the terms and conditions of the loans and decide which loans to enroll into CalCAP.
Eligible small businesses must be classified as a small California business under U.S. Small Business Administration guidelines or have fewer than 100 employees. The borrower's business must be in one of the industries listed in the qualified Standard Industry Classification codes list.
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