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State Small Business Credit Initiative Technical Assistance for Capital Readiness Program 2023: Capital Readiness Coaches

Governor's Office of Business and Economic Development · 50688

Eligibility details

All applicants must be:• Located in California and primarily serve California small businesses.• Eligible legal, accounting, and financial advisory services provided to eligible beneficiaries under California’s SSBCI Technical Assistance for Capital Readiness Program, as outlined by US Treasury Technical Assistance Guidelines. Please review the Program Announcement for full eligibility requirements.

Matching funds & resources

Source matching-funds field: Not Required.

Matching funds and leveraged resources are different requirements. Read the description and reviewed rules below before determining resource commitments.

About this opportunity

As part of CalOSBA’s commitment to Governor Newsom’s California for ALL, the office will also incorporate separate, complimentary, and competitive funding categories to support the success of California’s SSBCI TA Grant Program and reach as many targeted businesses and individuals as possible throughout the business lifecycle. Central to the design of the California Technical Assistance for Capital Readiness Program is the desire to create multiple avenues for navigation of the many sources of capital available to small businesses, to address barriers to capital access, data driven assessment of the of the needs of eligible beneficiaries in California, as well as to up level the breadth and quality of the technical assistance services offered to the state’s small businesses applying for, preparing to apply for, or previously applied for an SSBCI capital program or other federal or other jurisdiction small business program. The Program will utilize a mesh network that provides varying levels of technical assistance navigators to meet entrepreneurs and small businesses where they are. TA programs and services shall be guided by an individualized TA plan and consist of high touch, one-on-one coaching to support the small business owner in preparing for access to capital (pre-funding and post-funding). Sub-recipients of SSBCI TA funds may provide small group learnings, online learning platforms, and seminars to complement one-on-one coaching, especially when creating efficiencies in meeting the shared needs of small business owners engaged with the Program. Program applicants are responsible for building a pipeline of eligible businesses for California’s SSBCI capital programs including but not limited to the Loan Guarantee program, which is deployed through iBank, CPCFA, and Community Development Finance Institutions, and the Expanding Venture Capital Access Program. The mesh network includes Capital Readiness Coaches, Capital Readiness Network Manager, Capital Providers, Equity Advisors, and Technical Assistance Training Partners. Review full program details here. Application Portal will be available on November 30, 2023 here.

Funding geography: The State of California

Funding instrument: Grant. Issuing jurisdiction: California. This is not a geographic eligibility determination.