California Investment and Innovation Program (Cal IIP) 2027

California Investment and Innovation Program (Cal IIP) 2027

Cal IIP was established to provide grants to enhance the capacity and ability of community development financial institutions (CDFIs) to provide programs including technical assistance and access to capital to economically disadvantaged communities throughout California.

The Legislature designed Cal IIP to provide grants enhancing the capacity and ability of community development financial institutions (CDFIs) to provide programs including technical assistance and access to capital to economically disadvantaged communities throughout California. CDFIs can use the grants to fund services and operations that contribute to the CDFIs overall community development mission and goals. CDFIs can also use the grants to supplement their net assets and increase the capacity to attract additional funding.

Details

• Agency: State Treasurer's Office
• Type: Grant
• Funding Source: State
• Estimated Available Funds: $10,000,000
• Estimated Awards: Dependant on number of submissions received, application process, etc.
• Award Amount: Dependant on number of submissions received, application process, etc.
• Funding Method: Advance(s)
• Matching Funds: Not Required
• Geography: The CDFI must have a record of lending in California. 

Categories

Disadvantaged Communities; Housing, Community and Economic Development

Eligible Applicants

Business