California Rebuilding Fund

The California Rebuilding Fund is a loan program designed to support California’s small businesses by providing them with flexible, affordable capital and free advisory services from community-based lenders. The fund was launched in 2020 and All Home co-founded and facilitated the task force that created it.

California’s small businesses employ almost 50% of the state’s workforce, and thus are integral to restoring economic activity and driving development after the impacts of the Covid-19 pandemic. This public-private partnership sought to ensure that California’s small businesses were able to recover economically from challenges brought on by the pandemic, and leveraged the combined services and funding of public and private sector leaders and a dozen Community Development Financial Institutions (CDFIs) in order to do so. These local community lenders provide small businesses with access to credit that they might typically be unable to receive from traditional banks alongside free technical assistance.

Businesses across all industries with up to 50 full time employees and gross revenues of less than $5 million were eligible to apply, and the fund was especially aimed at those located in economically disadvantaged and historically underserved areas.

As a result of the California Rebuilding Fund, 1,425 loans were distributed to fund businesses including healthcare practices, salons, daycares, florists, family owned restaurants, and more. Of those businesses, 86% had revenues <$1M, 65% were Minority- and Women-owned Business Enterprises, and 87% had 10 or fewer employees. Although the California Rebuilding Fund is no longer accepting applications, businesses in need of capital or support can reach out to be matched with a participating CDFI for any of their other program offerings.