You all know that budget discussions are going on in Sacramento.
Two bills called trailer bills are being discussed and look like they have a good chance of being included in the budget. These bills are SB 872 and AB 1672. They are important in that they will provide about $32 million to small business programs.
$20 million will go to the existing Small Business Loan program at Business Transportation and Housing. This will leverage about $100 million in bank loans and/ or lines of credit and will serve it is estimated 1000 business.
$6 million will go to a program called the California Capital Access Program [Cal Cap]. This will triple the size of their current program and would leverage $135 million in loans and serve about 1000 businesses.
The real big piece however is $6 million to the Small Business Development Center program. SBDCs have been hit hard by the Community Colleges pulling back their funding. This money is matched by the SBA so it means $12 million to SBDCs.
Small Business California is watching this closely and we are being told this should get passed.
Small Business California
2311 Taraval Street
San Francisco, CA 94116