CalCAP is a loan loss reserve program which may provide up to 100% coverage on losses as a result of certain loan defaults. The program provides financing for small businesses that may not otherwise meet a bank’s typical underwriting standards. Loans: Loan amount may be up to $2.5 million. Loans can be short- or long- term, have fixed or variable rates, be secured or unsecured, and bear any type of amortization schedule. Loan proceeds must be used for business activity in California.
Small business owners should apply directly with a participating lender. Participating lenders are listed at https://www.treasurer.ca.gov/cpcfa/calcap/sb/institutions.pdf
More information of California and federal COVID-19 resources for small businesses and employers: https://covid19.ca.gov/business-and-employers/#top