California Capital Access Program (CalCAP) Americans With Disabilities Act (ADA) Financing Program
The program is designed to assist small businesses with financing the costs to alter or retrofit existing facilities to comply with the requirements of the federal Americans With Disabilities Act of 1990.
The CalCAP for ADA Program encourages banks and other financial institutions to make loans to small businesses that have difficulty obtaining financing. CalCAP is a loan loss reserve program which may provide up to 100% coverage on losses as a result of certain loan defaults. With CalCAP portfolio support, a lender may be more comfortable underwriting small business loans.
The loans in this program must be used for alterations or retrofits to existing small business facilities to comply with the requirements of the federal Americans Disabilities Act (ADA) of 1990. Loans enrolled in the program may receive up to 100% coverage in case of defaults. The maximum loan amount is $5,000,000.00 with only $50,000.00 enrolled in the program. CPCFA does not work directly with borrowers to apply for financing, applicants must apply through participating financial institutions. https://www.treasurer.ca.gov/cpcfa/calcap/ada/institutions.pdfNo loans enrolled to date.
This program is for small businesses with 30 or fewer full-time equivalent employees OR those that have a total annual gross income of less than $5 million and need a loan for physical retrofits to the small business of less than 10,000 square feet for compliance with the federal Americans with Disabilities Act. A qualified business must have its primary location and facility located in California and cannot provide overnight accommodations.
The business must be located in California. Loans for areas with high unemployment rates and/or are within a declared disaster area are eligible for additional funding.
Matching Funding Requirement:
Yes, both Borrower and Lender pay fees between 2-3.5% of the loan enrollment amount.
How to Apply
State agencies/departments recommend you read the full grant guidelines before applying.
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