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Capital Infusion Program (CIP) 2023-2024

Grantor:
Governor's Office of Business and Economic Development
Departmental Grant ID:
CACIP2023
Portal ID:
34274
Status:
Closed
Opportunity Type:
  • Grant
Last Updated:
 | 
Categories:

Details

Purpose:

This grant is ONLY open to the five Small Business Development Center (SBDC) Networks in California. This is NOT a grant for small businesses.

This funding is for the Small Business Development Centers (SBDCs) in the Northern CA, Central CA, Los Angeles, Orange County Inland Empire, and San Diego and Imperial regions to support their efforts to help small businesses access capital. 

Description:

$3 million is provided each year for Small Business Development Centers' local cash match funding. Funding is designated to support SBDC networks to help small businesses in California access capital. 

 

Funding is only available to the five small business development center networks in California. This is NOT a grant for small businesses. 

Eligibility Requirements

Eligible Applicants:

  • Nonprofit

Applications may only be submitted by California SBDC Lead Centers as one consolidated application per SBDC region. 

Eligible Geographies:

Applications may only be submitted by California SBDC Lead Centers as one consolidated application per SBDC region.

Matching Funding Requirement:

Awards require a 1:1 match of funds from the U.S. Small Business Administration (SBA).

 

Important Dates

The date (and time, where applicable) by which all applications must be submitted to the grantmaker. Time listed as “00:00” equates to midnight.
The date on which the grantor expects to announce the recipient(s) of the grant.
September 2023
The length of time during which the grant money must be utilized.
10/01/23 - 09/30/24

Funding Details

The total projected dollar amount of the grant.
$3,000,000
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.
5
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
Certain grants require that the recipient(s) provide a letter of intent.
No
Certain grants require that the recipient(s) be able to fully or partially match the grant award amount with another funding source.
100%
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:

The California Office of Small Business Advocate (CalOSBA) at the Governor’s Office of Business and Economic Development (GO-Biz) is charged with implementing and administering the Program which is funded annually for $3 million to draw down federal funds in the California Small Business Development Center Program.

 

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).
  • Reimbursement(s)

Funding Method Notes:

CalOSBA will process grant payments quarterly on a cost-reimbursement basis. CalOSBA will issue payments within forty-five (45) calendar days of receiving a complete, valid and undisputed invoice with all required documentation and reporting requirements.

 

How to Apply

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

Resources

For questions about this grant, contact:
CalOSBA Programs, 1-877-345-4633, sbtaep@gobiz.ca.gov

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