On Tuesday, the California State Treasury announced recipients of awards through the California Investment & Innovation Program (Cal IIP) for the state’s community development financial institutions (CDFIs). The awards include $9.1 million dedicated to helping 45 California CDFIs deliver affordable, transparent capital to underbanked small businesses. 22 of those 45 organizations are CAMEO members, receiving a total of $5.1 million.
This funding will be critical to helping Los Angeles small businesses rebuild from the fires – with many CDFIs already stepping up to offer zero-interest loans. It will also bolster California’s entrepreneurs — helping small businesses access coaching, capital, and networks to create jobs and drive our state’s economy forward.
CAMEO Network was a leading advocate for legislation to establish Cal IIP. This year’s $9.1 million investment is nearly twice as large as last year’s award. CAMEO Network will continue to advocate for future funding of CAL IIP to unlock additional capital for small businesses and entrepreneurs.
Congratulations to all our members who are receiving a Call IIP award!
| CAMEO Member | Amount Awarded |
|---|---|
| Accessity | $180,303.03 |
| Accion Opportunity Fund | $180,303.03 |
| North Edge | $180,303.03 |
| California Capital Small Business FDC | $180,303.03 |
| California FarmLink | $180,303.03 |
| Creser Capital Fund | $428,571.43 |
| Economic Development & Financing Corporation | $428,571.43 |
| Economic Justice Fund | $428,571.43 |
| Excite Credit Union | $180,303.03 |
| Feed the Hunger Fund | $180,303.03 |
| First Community Capital | $428,571.43 |
| Fresno Area Hispanic Foundation | $180,303.03 |
| Inclusive Action for the City | $180,303.03 |
| International Rescue Committee | $180,303.03 |
| Main Street Launch | $180,303.03 |
| North Edge Business Financing & Community Development | $180,303.03 |
| Opening Doors | $180,303.03 |
| PACE | $180,303.03 |
| Pacific Community Ventures | $180,303.03 |
| TMC Community Capital | $180,303.03 |
| Vermont-Slauson LDC | $180,303.03 |
| Women’s Economic Ventures | $180,303.03 |
| Working Solutions CDFI | $180,303.03 |
If you received a Cal IIP award and are a CAMEO member but are not on the above list, let us know so we can add you!