Specialized Funding Programs

This section lists special funding sources for specific economic development activities.

ENERGY

Geothermal Grant and Loan

Description Provides financial and technical assistance for resource development, planning, and impact mitigation. Available to a variety of projects including geologic evaluation and resource assessment, economic and engineering feasibility analysis, and project planning and reviews qualify for assistance.

Eligible Applicants Private entities and local governments.

Contact California Energy Commission (916) 654-4542.

Energy Efficiency Improvements Program

Description Provides loans for equipment that conserves, produces or controls energy use, in new or existing facilities.

Eligible Applicants Small businesses and nonprofit organizations.

Contact SAFE-BIDCO (707) 577-8621.

ENVIRONMENTAL

Hazardous Waste Reduction Loan

Description Provides loans, ($20,000 -$150,000), to finance equipment and/or changes in production practices that will result in either a reduction of solid waste generated or reduces the hazardous properties of the solid waste generated. Terms are for seven years, with rates below conventional market rates. A 2% loan fee is paid at final loan closing.

Eligible Applicants Small businesses with an assigned EPA number.

Contact A Regional Development Corporation or SAFE-BIDCO (707) 577-8621

Repair Underground Storage Tank Loan (RUST)

Description Provides loan assistance (up to 90% of project costs) to replace, remove, repair or upgrade underground storage tanks.

Eligible Applicants Small businesses.

Contact A Regional Development Corporation or SAFE-BIDCO (707) 577-8621.

Small Business Pollution Control

Description Provides tax-exempt financing for pollution control, waste disposal, and resource recovery systems, in order to comply with state-imposed environmental requirements. Eligible activities include land acquisition, landscaping, building, fixtures, furnishings, machinery, equipment, engineering, surveying, and permitting.

Eligible Applicants California businesses.

Contact California Pollution Control Financing Authority (916) 654-5610.

GENERAL BUSINESS

CA Economic Development Lending Initiative (CEDLI)

Description Micro-loans targeted to businesses seeking funds to expand or acquire a business.

Eligible Applicants Small Businesses.

Contact California Economic Development Lending Initiative (510) 267-8990 or SAFE-BIDCO (707) 577-8621.

Co-Lending Program for Small Business

Description Targets loans to emerging businesses in both urban and rural areas that are currently not able to qualify for conventional bank financing.

Eligible Applicants Small Businesses, with priority to minority and women-owned businesses, businesses lo-cated in underserved areas, and in low-income communities.

Contact California Economic Development Lending Initiative (510) 267-8990.

Office of Small Business (OSB) Loan Guarantee

Description Provides guarantees for a wide range of business loans and lines of credit. These guaran-tees can by very helpful in obtaining lines of credit for firms experiencing rapid growth or seasonal cash shortages. Maximum loan available is $350,000.

Eligible Applicants Small businesses.

Contact SAFE-BIDCO, State Assistance Fund for Enterprise Business and Industrial Develop-ment Corporation (707) 577-8621.

Regional Development Finance Corporations

Description RDC's guarantee loans made by banks or financial institutions to small businesses for a wide variety of purposes. Programs offered through RDC's include Micro-Loan Guarantees, Energy Conservation Loans, Hazardous Waste Reduction Loans, Repair Underground Storage Tank Loans, and more.

Eligible Applicants Small businesses.

Contact One of the Regional Development Corporations (RDC) or SAFE-BIDCO at (707) 577-8621

DIRECT LOANS

Description Assists small businesses that are unable to obtain a conventional bank loan or an SBA guaranteed loan.

Eligible Applicants Direct loan funding is very limited and generally available only to certain types of borrowers, such as employers in high unemployment areas, borrowers who are low income and disabled individuals.

Contact Small Businesses Administration at (800) 827-5722

Small Business Investment Company (SBIC)

Description Provides venture capital to small businesses. SBIC's are licensed by the SBA but operate independently. SBIC financial assistance is provided through long-term loans and by the purchase of debt or equity-type securities issued by the business. SBIC's also provide managerial assistance.

Eligible Applicants Small businesses.

Contact Small Business Administration at (800) 827-5722

Small Guarantee Loan

Description Guarantee loans of $50,000 or less (with maturities greater than 12 months).

Eligible Applicants Small businesses.

Contact Small Business Administration at (800) 827-5722

Surety Bond Guarantee

Description Provides assistance to small business contractors who are required to have a bid, performance, or payment bond in order to obtain a contract--including, but not limited to, firms in construction, repair, maintenance, service, supply, and manu-facturing.

Eligible Applicants Small business contractors.

Contact Small Business Administration at (800) 827-5722

INTERNATIONAL TRADE

Export Working Capital Program

Contact Small Business Administration at (949) 660-1688 Ex. 115.

Description Provides short-term financing for export-related transactions. SBA guarantees up to 90% of a secured loan or $750,000, whichever is less. Uses a one-page appli-cation form and streamlined documentation.

Eligible Applicants Small businesses who are exporters seeking short-term working capital

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