California Pollution Control Financing Authority

State Small Business Credit Initiative (SSBCI 2.0)


Current Status

The U.S. Treasury has awarded $1.181 billion in SSBCI 2.0 funds to California, divided equally between CPCFA and IBank. IBank is the lead applicant and they have signed an allocation agreement with U.S. Treasury. CPCFA and IBank have signed an updated joint agreement to implement SSBCI 2.0.

The funds will be sent to California over a period of eight years, in three separate installments (tranches). The funds will be used to implement the five types of programs allowed under SSBCI 2.0.

Outreach to qualifying financial institutions, organizations serving small businesses, and community organizations has begun and will continue.

U.S. Treasury is in the process of accepting applications for SSBCI 2.0 Technical Assistance.

CPCFA’s SSBCI 2.0 Programs

IBank’s SSBCI 2.0 Programs

What Happens Next

  • Stakeholder outreach continues.
  • Financial Institutions are being enrolled in the CPCFA and IBank programs.
  • Technical Assistance for small businesses will be implemented by technical service providers after U.S. Treasury completes the application and award process.

Participation and Support for Small Businesses

  • After applying, the participating financial institution’s underwriting process will determine if the proposed loan should be enrolled in the CalCAP for Small Business or CalCAP Collateral Support program, and may also approve a proposed loan without enrolling the loan in CalCAP

Participation for Financial Institutions

  • Many types of financial institutions are eligible to enroll in CalCAP for Small Business and/or CalCAP Collateral Support as a participating financial institution
    • There is no charge to enroll and all fees are paid on a per-loan basis
  • Financial institutions begin enrollment with this one-page form
  • Financial institutions can also choose to enroll in IBank’s SSBCI 2.0 program