In This Edition:

• Deadline Approaching: Help Shape California's Green Banking Strategy, Respond by February 9

• IBank Welcomes New Team Members

• California is No. 1 in Supporting Small Businesses

• Unshackled Ventures Featured on Nasdaq Tower

• Where You'll Find Us



• IBank's Scott Wu Joins Martin Luther King Jr.'s Family for Weekend of Service

• Join Us for SSBCI/State of CA Small Business Credit Enhancement, Risk Management Tools for Lender

• Follow Us on Social Media

Deadline Approaching: Help Shape California's Green Banking Strategy, Respond by February 9

The California Infrastructure and Economic Development Bank (IBank), in partnership with the California State Treasurer’s Office and jointly acting as the state’s “Green Bank,” issue a Climate Financing Request for Information (RFI) to solicit input from stakeholders that will inform the development of the state’s climate financing strategy. Responses will play a key role in strengthening California’s ability to mobilize private capital into clean technology projects and deploy key climate solutions that accelerate progress towards our climate goals, while benefitting California’s low-income and disadvantaged communities. 

About the RFI: The Climate Financing RFI follows the deadline for applications to the U.S. Environmental Protection Agency’s (US EPA) National Clean Investment Fund (NCIF). NCIF, created through the federal Inflation Reduction Act of 2022, will capitalize a series of federal green financing entities that will provide capital to state green banks for the financing of climate solutions. 

Key sectors: The RFI presents a vital opportunity for diverse voices to provide input on market conditions and potential approaches in three key sectors:  

1. Distributed Energy Generation and Storage  

2. Net-Zero Emissions Buildings

3. Zero-Emissions Transportation

Who should respond: The RFI is open to all interested stakeholders. Feedback from private capital partners, impact investors, developers, local governments, community groups, philanthropies, and other market participants is crucial in identifying financing gaps and maximizing the impact of public resources to meet the evolving needs of the climate solutions market. 

Deadline: Don’t miss your chance to help shape IBank and the State Treasurer’s Office approach to climate financing with NCIF resources by submitting your response to climatefinancingrfi@ibank.ca.gov by February 9, 2024 at 11:59 PM. The RFI will remain open after the priority deadline, with questions and submissions reviewed periodically. 

View and respond to the Climate Financing RFI.

Direct any questions and responses to climatefinancingrfi@ibank.ca.gov. 

Learn more about IBank's Climate Catalyst Program and other Climate Financing programs.

Learn more about the State Treasurer’s Office Climate Financing programs. 

IBank Welcomes New Team Members

IBank's Three Priorities

1. Creating and preserving jobs — All IBank programs create or retain jobs for Californians and contribute to economic development throughout the state.  

2. Being inclusive in who and how we serve Californians / Expanding access to underserved communities — At IBank, we’re working to ensure our programs benefit Californians throughout the state — including underserved populations and communities, such as small business owners who are female, indigenous, or people of color; people living in low- to moderate-income communities, smaller/rural areas, and other underserved populations. 

3. Addressing climate change / Protecting the environment —IBank is expanding its role in “environmental/climate financing” — investing in and enabling projects that are addressing the climate crisis in a meaningful way. We help finance projects that create and sustain a cleaner, healthier, and safer environment.

California is No. 1 in Supporting Small Businesses

IBank has deployed millions of SSBCI dollars through our Small Business Loan Guarantee program to help put us in the top spot!

Unshackled Ventures Featured on Nasdaq Tower

Congratulations to Unshackled Ventures, which was recently featured on the Nasdaq Tower in New York City!

Unshackled Ventures received $4.1 million from IBank's Expanding Venture Capital Access program last year, marking the first investment by the program.

Immigrant founded Unshackled Ventures invests in visionary immigrant entrepreneurs, providing the “friends and family” capital they often lack, while also providing support for the founders’ immigration process, including sponsoring visas and offering a community of resources. These investments generate innovation and jobs.

The Expanding Venture Capital Access program is funded by $200 million from California’s $1.2 billion allocation from the U.S. Treasury’s State Small Business Credit Initiative (SSBCI), which provides capital to fund small businesses, including those that are socially and economically disadvantaged startups and investors. The program is administered by IBank in partnership with Cambridge Associates.

Visit IBank’s Expanding Venture Capital Access webpage to learn more about the program.

Where You'll Find Us

What: California Society of Municipal Finance Officers Annual Conference

Where: Anaheim

When: January 30 - February 2, 2024

Join Us: View registration information

IBank Executive Director Spends MLK Day Weekend Volunteering

IBank CEO/Executive Director Scott Wu spent his Martin Luther King Jr. holiday weekend volunteering.

It was all in honor of the newly launched initiative "Realizing the Dream," which aims to rally communities to perform 100 million hours of service in honor of the 100th anniversary of Martin Luther King Jr.'s 100th birthday.

Pictured here are Martin Luther King Jr.'s son, Martin Luther King III, Arndrea Waters King, and Yolanda Renee King, as well as Scott Wu, his wife Kimberly, and friends.

Join Us for SSBCI/State of CA Small Business Credit Enhancement, Risk Management Tools for Lenders

Join us February 1 to get the latest updates on the California’s U.S. Treasury-funded credit enhancement, risk management tools for lenders.

Cohosted by IBank and CPCFA (part of the State Treasurer’s Office). 

State Small Business Credit Initiative (SSBCI) “Credit Enhancement, Risk Management Tools” for Community Banks, MDIs, CDFIs

February 1, 2024 (10:00 a.m. – 12:00 p.m.)

Who should attend: Lenders seeking to grow their portfolios and serve California small businesses, including:

• Community Banks
• Minority Depository Institutions
• Community Development Financial Institutions

What you will learn: All about California’s State Small Business Credit Initiative (SSBCI) credit-enhancement programs:

1. CalCAP for Small Business — Quick process, which is popular with financial institutions for microloans, and loans and lines of credit up to $5 million.
2. CalCAP Collateral Support — Ideal for when a small business is a strong position to obtain a loan, except for inadequate collateral. It enrolls loans and lines of credit up to $20 million.
3. Small Business Loan Guarantee Program — Addresses a wide range of underwriting concerns for loans and lines of credit up to $20 million.

We will also share the status of:

• California’s anticipated Loan Participation Program
• Grants for CDFIs through the California Investment & Innovation Program (Cal IIP)

Please note: This webinar is not geared toward small businesses. Small business seeking loans, grants, or other assistance should contact their local Small Business Development Center.

Registration required. Register now.