With political controversy swirling around the federal government’s energy loan guaranty program, many may not realize that California has its own loan guaranty program. The California Pollution Control Financing Authority administers the California program. If you’ve never heard of the CPCFA, it happens to be a political subdivision of the State of California that consists of the State Treasurer, Controller, and the Director of the Department of Finance (or a designated deputy). Health & Safety Code § 44515.
Despite Its Name, The Capital Access Loan Program Doesn’t Make Loans
The CPCFA administers the Capital Access Loan Program. The CalCAP program does not lend money directly. Rather, it provides loan insurance to lenders to small businesses. Here is a list of participating lending institutions. In the first six months of this year, 593 loans were enrolled in the program, with enrolled loans totalling $55.5 million.
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