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.