California Investment and Innovation Program (Cal IIP) 2027

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.

Business — The applicant must be a CDFI and have current certification by the Code of Federal Regulations, a minimum net worth of $25,000, and 5 loans in the 12 months prior to application submittal.  The CDFI must have an office in CA and officers living in California or a record of lending in California, based on at least 25% of applicant's loan portfolio to CA projects, and provided financial assistance in CA totaling $10 million in the 3 years prior.