Loan Guarantee Program
IBank’s Small Business Finance Center features a loan guarantee program designed to assist small businesses that experience capital access barriers. The Small Business Loan Guarantee program encourages lenders to provide funds to small businesses to help them grow and prosper.
Originally known as the Small Business Loan Guarantee Program (SBLGP), the SBFC received seed money in 1968 in an effort to reduce unemployment by supporting entrepreneurship and small businesses. The Finance Center promotes statewide economic development by increasing opportunities for entrepreneurs, the self-employed, microbusiness and small business owners to have better access to capital and other technical resources.
The Small Business Loan Guarantee program helps businesses create and retain jobs, and encourages investment in low- to moderate-income communities. The Small Business Loan Guarantee program is available to small businesses throughout the state of California and serves hundreds of small businesses each year.
View our Small Business Profiles
IBank’s Small Business Finance Center supports communities throughout California by providing loan guarantees, Jump Start loans, disaster relief financing and more. Small businesses provide jobs in every region of the state and are a vital contributor to the economy. Check out some of the businesses that have used SBFC programs.
View our Small Business Profiles
IBank’s Small Business Finance Center supports communities throughout California by providing loan guarantees, Jump Start loans, disaster relief financing and more. Small businesses provide jobs in every region of the state and are a vital contributor to the economy. Check out some of the businesses that have used SBFC programs.
Frequently Asked Questions and Fact Sheet
Small Business Loan Guarantee Program
Q: Who Qualifies for Small Business Loan Guarantee program financing?
A: Eligible applicants include small businesses with 1-750 employees. Credit qualifications are based on lender criteria.
Q:How many loans were guaranteed through the Small Business Loan Guarantee program in FY 22-23?
A: 760 loans were guaranteed in FY 22-23 by the Small Business Loan Guarantee program.
Q:How many jobs were created or retained in FY 22-23?
A: 14,349 jobs were created or retained in FY 22-23
Q: Who processes the loan guarantees?
A: One of seven Financial Development Corporation (FDC) partners throughout the state can help provide technical assistance as well as process loan guarantees for qualifying small businesses. IBank’s partner FDCs collectively have more than 1,367 years of lending expertise on staff and more than 659 years serving the SBFC directly.
Q: What are some eligible uses of the Small Business Loan Guarantee program financing proceeds?
A: Eligible uses of the Small Business Loan Guarantee program financing proceeds include start-up costs, construction, inventory, working capital, business expansion, agriculture, lines of credit and more.
Q: What is considered a small business?
A: The business must have between 1-750 employees and be established as an entity including:
- Sole Proprietor – Individual using legal name as business name that files a Schedule C, Schedule F, or has a fictitious business name or DBA statement
- If the loan appears to be in the name of an individual, evidence of Sole Proprietorship will be required and may include a Schedule C, Schedule F, Seller’s Permit, and/or fictitious business name or DBA statement
- Limited Liability Company
- Cooperative
- Corporation
- Partnership
- S-Corporation
- Not-for-profit
We will not accept an individual as the borrower. It is permissible for an individual to be a guarantor or co-borrower on the loan, but the primary borrower must be a small business. We do not consider citizenship or immigration status for eligibility requirements, as long as the entity/individual meets the above criteria. Trucking owner/operators are eligible as long as they are registered as a legal business entity.
AND
The business activity must be eligible under the program and in one of the industries listed in the North American Industry Classification System (NAICS) codes list.
Click the image below for a fact sheet
Contact the IBank Small Business Finance Center Team
E-mail us, HERE
Contact the IBank Small Business Finance Center
E-mail us, HERE
Office: 1325 J Street, Suite 1300, Sacramento, CA 95814
Mailing: P.O. Box 2830, Sacramento, CA 95812-2830
Related links: Disaster Relief Loan Guarantees | California Rebuilding Fund | Farm Loan Program | Jump Start Loans | Small Business Profiles | State Small Business Credit Initiative | Venture Capital Program | Participating Lenders | The California Office of the Small Business Advocate (CalOSBA) | FDC/Lender Use Only
