We are excited to join Gov. Gavin Newsom and other members of the California Small Enterprise (CASE) Task Force to launch the California Rebuilding Fund, a new program built to support California’s small businesses as they adapt and navigate the effects of COVID-19.
This program is intended to serve the smallest of small businesses that make up an essential part of California’s economy and will focus on supporting historically under-resourced communities.
As a member of the CASE Task Force, a volunteer effort of small business supporters across the state, we have been working diligently over the last few months to bring this Fund to life. The goal of the Task Force is to provide California small businesses with access to free support and flexible, affordable capital to help them navigate the COVID-19 pandemic.
Small businesses were the driving force that led the way out of the Great Recession and they can do it again, but not without a concerted effort to reach and support them. The California Rebuilding Fund is intentionally structured to support the businesses that are often left out or left behind by top-down relief and recovery programs. The Fund, which includes an anchor commitment from the State of California’s Infrastructure and Economic Development Bank (“IBank”), focuses on these business owners by deploying loans through Community Development Financial Institutions, which have the experience working with vulnerable populations.