California IBank Reaches Milestone, Connecting Small Businesses to More Than $5 Million in Private Lending

California loan match website helps small businesses access capital by matching them with vetted, mission-driven lenders

SACRAMENTO, Calif.--(BUSINESS WIRE)--The California Infrastructure and Economic Development Bank (IBank) today announced that they have helped small businesses access more than $5 million in private capital through its California Small Business Loan Match website.

In 2024, IBank launched the California Small Business Loan Match, which is powered by technology from the Community Reinvestment Fund to be an easy-to-use tool to match entrepreneurs with responsible lenders that specialize in helping small businesses. Small business owners simply enter information about their funding needs and get matched with private lenders positioned to help.

California is home to approximately 4.3 million small businesses, which make up 99.8% of all businesses in the state and employ 7.6 million people.

“Small businesses are the backbone of California’s economy,” said Dee Dee Myers, Senior Advisor to Governor Newsom and Director of Governor’s Office of Business and Economic Development. "The Small Business Loan Match milestone means more entrepreneurs will be able to move from searching for financing to investing in their businesses and building for the future."

What Small Business Owners Are Saying

“We needed more capital to have enough inventory on hand to fulfill orders and sign new contracts, including international ones,” said Nanette Hunte, president of D-Unique Tools. “I matched with Pacific Community Ventures through CA Loan Match. Not only was I able to get funding through them, but they also connected me with a mentor who has been able to connect me with additional resources and be a sounding board for me as I plan for the future.”

“I was making enough money to support myself, but not to grow and set my business up to be more sustainable in the future,” said Dr. Donna Lee, owner of Dr. Donna Lee Coaching, who was matched with lender Working Solutions. “Other lenders made me feel judged — like I wasn’t running my business ‘the right way,’ Working Solutions was very warm and they listened. They took the time to understand my financial situation and worked with me. They were very human.”

“When we started this business, my husband and I had no employees,” said Baya Chimedtseren, owner of TBAK Elite Trucking. “I managed all the logistics and marketing and he did all the deliveries himself. Now, we have a team of 10 and have been able to get contracts with large companies in our area. We had the opportunity to sign a new contract with a big company but needed to buy a new delivery truck and were having a hard time finding a loan that we were eligible for and trusted. We found Mission Driven Finance through CA Loan Match. Our loan agent spent a long time helping us through the process. Securing the loan is a dream come true for us.”

"After connecting with Working Solutions through CA Loan Match, they contacted me immediately,” said Rozana Khan, owner of Farah Modest Boutique. “ We set up a face-to-face meeting, which made me feel more comfortable because the process felt so personal. They walked me through each step, giving me the information I needed to make the best decisions for my business."

Unique Platform Features Lenders Specialized in Serving Small Businesses

Lenders on the platform are primarily mission-driven, nonprofit California Development Financial Institutions or CDFIs, which exist to help businesses that may struggle to qualify for loans with traditional banks. The platform is unique in that every lender is enrolled to use California IBank’s Small Business Loan Guarantees, a state-government program that reduces lending risk for financial institutions that want to serve small businesses.

“The Small Business Loan Match tool narrows the confusing array of lending options for small business owners,” said Andy Nakahata, IBank Executive Director. “By tailoring matches to lenders that can choose to use IBank’s Small Business Loan Guarantee Program, we’re reducing barriers small businesses often encounter when searching for loans. We’re thrilled to celebrate California small businesses accessing $5 million to move their businesses into the future.”

Eligible Borrowers and Use of Funds

CA Small Business Loan Match serves businesses that operate in California and have 1-750 employees. Loans can be used for purposes such as working capital, equipment purchases, expansion, and other business needs. Typical loan requests are for $150,00 or less, but maximum loan amount is $20 million. Final loan amount will be determined by the lenders. View complete list of eligibility requirements and get started at www.caloanmatch.org.

About the California Infrastructure and Economic Development Bank

The California Infrastructure and Economic Development Bank (IBank) is a state government agency and capital access bank housed within the Governor ‘s Office of Business and Economic Development (GO-Biz). In addition to supporting small businesses through its Small Business Loan Guarantee Program and CA Small Business Loan Match website. IBank also offers a range of financing programs to promote economic development, create jobs, and strengthen communities throughout California. These include bond financing (both taxable and tax-exempt), infrastructure loans for municipalities, and a venture capital program designed to increase access to venture capital and expand the VC ecosystem. For more information visit www.ibank.ca.gov.