California Investment and Innovation Fund (Cal IIP) Program

State Treasurer's Office · State of California

At a glance

California Investment and Innovation Fund (Cal IIP) Program is a closed California state grant opportunity from the State Treasurer's Office (State of California). The application deadline was October 1, 2024. Total estimated funding is $15M. Applicant types listed as eligible include business. It is listed on the California Grants Portal. Cost sharing is not required.

Summary assembled from the official notice's fields. The official notice governs.

Key facts

Sep 11, 2024Posted
Oct 1, 2024Application deadline

Opened: Sep 11, 2024
Close date: Oct 1, 2024
Award floor: Not specified
Award ceiling: Not specified
Est. total funding: $15,000,000
Expected awards: Not specified
Matching funds: Not required
Funding instrument: Grant

Program details (as published on the California Grants Portal)

Type: Grant
Funding source: State — Per legislation, 20% of funds available will be for small and emerging CDFIs. This funding will be divided among applicants that are small and emerging CDFIs. The size of grant awards shall be based on the total amount of loans closed by each applicant in the last fiscal year. Funding shall be awarded on a tier system. The funding amounts per tier may be less than the grant award depending on availability and number of applicants.
Matching funds: Not Required
Funding method: Advance(s)
Estimated number of awards: Dependant on number of submissions received, application process, etc.
Estimated award amounts: Dependant on number of submissions received, application process, etc.
Award period: 3 years
Expected award announcement: February 1, 2025
Letter of intent: Not required
Geography: The CDFI must have a record of lending in California.
How to submit: By email: caliip@treasurer.ca.gov
Latest change note: Updated the link to subscribe to grant updates.

Who can apply

Applicant categories as listed on the California Grants Portal. GrantsJunction maps them to detailed applicant types for search and matching.

Business

Additional information on eligibility (from the listing)

The applicant must be a CDFI and have a current certification by the Code of Federal Regulations, a minimum net worth of $25,000, and 5 loans in the 12 months prior to submitting application. 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.

Can your organization apply?

A quick check against the listed applicant types — other requirements in the notice still apply.

Based on the published notice. Review the official notice for complete eligibility requirements.

What it funds

Purpose and description as published on the California Grants Portal.

Purpose

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.

Description

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 CDFI’s overall community development mission. CDFIs can also use the grants to supplement their net assets and increase their capacity to attract additional funding.

Past applications & awards

Historical data · not a prediction

Reported by the agency for this listing

Fiscal year 2024–2579 applications · 75 awards

Counts as published on the California Grants Portal. Award counts can read zero until decisions are announced.

Awards published: 75
Total awarded: $14,999,934
Median award: $177,611 calculated
Smallest – largest: $100,000 – $428,571

Recipients by type: Business (73), Nonprofit (2)

Areas served: Los Angeles County (13), San Francisco County (9), Alameda County (7), Statewide (5), Sacramento County (5), Santa Clara County (4), Fresno County (3), San Diego County (3), Santa Barbara County (2), Riverside County (2), Kern County (2), Stanislaus County (2)

Largest awards to organizations

Angelique CapalboSpringboard CDFI$428,571 · FY 2024–25
Lauretta Casimir-MahoneySacramento Neighborhood Housing Services, Inc. dba NeighborWorks Sacramento$428,571 · FY 2024–25
Tchaidor Jay DialloFirst Community Capital, Inc.$428,571 · FY 2024–25
Scott BermanEconomic Justice Fund$428,571 · FY 2024–25
Robert GernertEconomic Development and Financing Corporation$428,571 · FY 2024–25
Juan HernandezCreser Capital Fund$428,571 · FY 2024–25
Marc RandAmerican Nonprofits$428,571 · FY 2024–25
Sara RazaviWorking Solutions CDFI$177,611 · FY 2024–25
Nicola ParrWomen's Economic Ventures$177,611 · FY 2024–25
Madeline StewartVida Federal Credit Union$177,611 · FY 2024–25

Source: California Grants Portal grant award data. Awards to individuals are counted but not named. Past awards show who was funded; they do not predict future decisions.

Program contact (as published)

caliip@treasurer.ca.gov
1-916-654-5610

Quick answers

Who is eligible to apply for “California Investment and Innovation Fund (Cal IIP) Program”?

The official listing names these applicant types as eligible: Business. It adds: “The applicant must be a CDFI and have a current certification by the Code of Federal Regulations, a minimum net worth of $25,000, and 5 loans in the 12 months prior to submitting application. The CDFI must have an office in CA and officers living in California or a record of lend…” Additional restrictions may apply; review the full guidelines.

How much funding is available through “California Investment and Innovation Fund (Cal IIP) Program”?

Per the notice, total estimated program funding is $15,000,000.

How do I apply for “California Investment and Innovation Fund (Cal IIP) Program”?

Applications go directly to State Treasurer's Office, not through GrantsJunction. Submission: by email to caliip@treasurer.ca.gov. Read the program guidelines on the agency's site first; state programs set their own forms and registration requirements.

Other open California state opportunities, matched on agency, categories and wording.

OpenState of California