California Capital Access Program for Small Business (CalCAP)
A loan portfolio insurance program that may provide up to 100% coverage on certain loan defaults, encouraging banks and other financial institutions to make loans to small businesses with difficulty obtaining traditional financing. Maximum enrolled amount is $2.5 million per borrower over 3 years.
About this program
Loan terms set by individual lender, not CalCAP. Loans can be short or long-term, fixed or variable rates, secured or unsecured. Includes specialty programs for ADA compliance retrofits and clean trucks.
Eligibility
Qualified small businesses classified as small under U.S. SBA guidelines with fewer than 500 full-time equivalent employees. Business activity must be in eligible NAICS codes. Borrowers and lenders each contribute 2.0% to 3.5% of the loan amount to a loan loss reserve account.