Press Release

SACRAMENTO – California State Treasurer Fiona Ma joins with California Governor Gavin Newsom and the California Infrastructure and Economic Development Bank (IBank) to announce the United States Department of the Treasury awarded the State of California $1.181 billion in State Small Business Credit Initiative 2.0 (SSBCI 2.0) funding. SSBCI 2.0 was reauthorized and funded as part of The American Rescue Plan Act signed by President Biden on March 11, 2021. The California Pollution Control Financing Authority (CPCFA), chaired by Treasurer Ma, and IBank jointly applied for SSBCI 2.0 allocation based on their successful programs for the original SSBCI which ended in 2017: CPCFA’s CalCAP for Small Business and CalCAP Collateral Support Program and IBank’s Small Business Loan Guarantee Program.

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