California Capital Access Program (CalCAP) Electric Vehicle Charging Station (EVCS) Financing Program

Portal ID:
1812
Status:
Closed (0 total applications submitted)
Opportunity Type:
  • Loan
Last Updated:
 | 
Categories:

Details

Purpose:

The program's goal is to expand the the number of electric vehicle (EV) charging stations installed by small businesses in California. Millions of consumers in the state do not buy zero emission electric vehicles because of the average driving range of 80-100 miles and the lack of charging stations. This program provides incentives to small business owners and landlords to install EV charging stations for employees, clients and tenants. 

Description:

Loans in this program must be used for the design, development, purchase, and/or installation of electric vehicle charging stations at small business locations in California. Borrowers may be eligible to receive a rebate of 10-15% of the enrolled loan amount. Loans enrolled in the program may receive up to 100% coverage in case of defaults.Maximum loan enrollment amount is $500,000.00.CPCFA does not work directly with borrowers to apply for financing, applicants mus apply through participating financial institutions. https://www.treasurer.ca.gov/cpcfa/calcap/evcs/lenders.pdfThe total number of loans enrolled (2015-2019) is 2, with an average loan amount of $255,562.00.

Eligibility Requirements

Eligible Applicants:

  • Business

The qualifications for this program includes the following: 1. That the majority of business must be conducted in California.  2. The borrower has 1,000 employees or fewer  3. The EVCS supply equipment must meet minimum technical requirements as set forth by the California Energy Commission.

Eligible Geographies:

The EVCS installation must be located within the boundaries of the State of California.  An additional contribution amount is given for installations of multi-unit dwellings and in disadvantaged communities.

Matching Funding Requirement:

Not applicable

Important Dates

Application deadline The date (and time, where applicable) by which all applications must be submitted to the grantor.
Expected award announcement The date on which the grantor expects to announce the recipient(s) of the grant.
On a rolling basis
Period of performance The length of time during which the grant money must be utilized.
none

Funding Details

Total estimated available funding The total projected dollar amount of the grant.
$2,000,000
Expected number of awards A single grant opportunity may represent one or many awards. Some grantors may know in advance the exact number of awards to be given. Others may indicate a range. Some may wish to and wait until the application period closes before determining how many awards to offer; in this case, a value of “Dependent” will display.
Dependent
Estimated amount per award Grant opportunities representing multiple awards may offer awards in the same amount or in varied amounts. Some may wish to wait until the application period closes before determining per-award amounts; in this case, a value of “Dependent” will display.
Dependent
Letter of Intent Required? Certain grants require that the recipient(s) provide a letter of intent.
No
Requires Matched Funding? Certain grants require that the recipient(s) be able to fully or partially match the grant award amount with another funding source.
No
Funding Source: The funding source allocated to fund the grant. It may be either State or Federal (or a combination of both), and be tied to a specific piece of legislation, a proposition, or a bond number.
  • State

Funding Source Notes:

This program is funded by the California Energy Commission.

Funding Method: The manner in which the grant funding will be delivered to the awardee. Funding methods include reimbursements (where the recipient spends out-of-pocket and is reimbursed by the grantor) and advances (where the recipient spends received grant funds directly).
  • Advances & Reimbursement(s)

Funding Method Notes:

The funds are provided to the Borrower by the participating CalCAP enrolled financial institution. Each CalCAP Lender has a loan-loss reserve account that is built up by contributions provided by CPCFA for each enrolled loan in the program.  CPCFA's contributions go into the accounts for each lender. After repayment of the loan, the borrowers are eligible to receive a rebate of up to half the contribution amount.

How to Apply

State agencies/departments recommend you read the full grant guidelines before applying.

Resources

For questions about this grant, contact:
1-916-654-5610, CalCAP@treasurer.ca.gov