California Small Business Loan Guarantee Program (SBLGP)
Provides up to an 80% loan guarantee (max $1 million guarantee on loans up to $5 million) to participating commercial lenders, CDFIs, and credit unions to help small businesses that experience capital access barriers. Designed to help small businesses expand, grow, create and retain jobs, and access credit when they would otherwise be denied due to lack of collateral or operating history.
About this program
Borrowers apply through participating lenders; IBank does not lend directly. Loan term up to 7 years. Guarantee fee up to 3% plus $250 doc fee. Available statewide via 7 Financial Development Corporations.
Eligibility
Small businesses with 1-750 employees in California, including sole proprietors, partnerships, LLCs, corporations, and nonprofits. Eligible uses include start-up costs, construction, inventory, working capital, business expansion, agriculture, and lines of credit.