Looks like California has increased the guarantee on its Small Business Loan Guarantee Program from $1 million to $5 million, potentially supporting total loan proceeds of up to $6.25 million. I've heard that this program is similar to the SBA 7(a) and can be used for business acquisitions but with better amortization rates and fewer rigid requirements.
Unfortunately all of these announcements point to the IBank website and I can't find any meaningful information on the program.
Perhaps some California lenders here can comment and share more about the particulars of the program. Seems like a very compelling resource, and was just topped up by the federal government with an additional $1.1 billion in firepower?
^Searchfunder member ^Searchfunder member etc.
https://twitter.com/CAMEOnetwork/status/1573432060819263496?s=20&t=bJk-3YyLIGV15an-wSyK8w
California Small Business Loan Guarantee Program increases guarantee limit?
by a searcher from University of Southern California
More on Searchfunder
Searchfunder is an online community and toolkit for searchfunds. Over 80% of those involved in searchfunds maintain a Searchfunder.com account to help them network, problem solve challenges, and keep up with the industry.
We maintain partnerships with database providers that make searching more effective, efficient and affordable along with features that help searchers find deals and investors and vice versa.
We maintain partnerships with database providers that make searching more effective, efficient and affordable along with features that help searchers find deals and investors and vice versa.
102 views
9 comments
Sign in to see all replies.
Create an account.