Jump Start Microloan Program
IBank’s Small Business Finance Center features a microloan program for businesses in low-wealth communities. The Jump Start Loan Program helps small businesses in low-wealth communities start, grow and thrive. Jump Start’s goal includes assisting underserved groups such as women, people of color, veterans, the disabled and those previously incarcerated.
The Jump Start loan program can help start or grow businesses for entrepreneurs that may not qualify for loans at traditional lenders or other programs because they are often too new or too small.
Jump Start microloans are available in amounts from $500 to $10,000. Jump Start also will provide borrowers with tools beyond money by offering them technical assistance and financial literacy training to improve their chance of success. IBank contracts with Financial Development Corporations (FDCs) that have proven experience with micro lending in low-wealth communities to provide the technical assistance, credit underwriting and loan disbursement. The five Jump Start FDCs are California Capital Financial Development Corporation, California Coastal Rural Development Corporation, NorCal Financial Development Corporation, Pacific Coast Regional Small Business Development Corporation and Valley Small Business Development Corporation. For contact information click here: Participating Lenders | California Infrastructure and Economic Development Bank (IBank).
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
Jump Start Loans
Q: Who Qualifies for a Jump Start Loan?
A: Eligible applicants include low-wealth entrepreneurs that are located in low-wealth communities.
Q: What are some eligible uses of Jump Start loan proceeds?
A: Eligible uses of Jump Start loan proceeds include start-up costs, machinery, equipment, inventory, tenant improvements and more.
Q: What is the gender breakdown of Jump Start loan recipients?
A: In FY 22-23 Jump Start borrowers were 60% female and 40% male.
Q: What are the loan terms?
A: Jump Start loans are offered at prime + 5% interest and can be amortized over five years.
Q: Do Jump Start loans help create jobs in California?
A: Jump Start Loans have created or retained an average of three jobs per loan, helping small business continue to have a positive impact on the State’s economy.
Q: What ethnicities have been represented by the Jump Start loan recipients?
A: Jump Start loan recipients have been Hispanic, Caucasian, African American, Asian Indian and more.
Contact the IBank Small Business Finance Center
E-mail us, HERE
Telephone: (916) 341-6600
Contact the IBank Small Business Finance Center
SBFC Program Manager: Megan Hodapp
Office: 1325 J Street, Suite 1300, Sacramento, CA 95814
E-mail: SBFC-Programs@IBank.ca.gov
Telephone: (916) 341-6600
