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SB 1311: Small Business Micro-Finance Loans (2008)


SB 1311 would allow the California Pollution Control Financing Authority (CPCFA) to match loan loss reserve contributions in the CalCAP program equal to the amount paid by participating financial institutions.  Current statute requires the CPCFA contribution to be the combined total of the loan loss reserve contribution paid by the participating financial institutions and the borrower.  The net result of all this is that the Authority will be able to dramatically increase the number of small business loans available without increasing the risk to the state and at no cost to the General Fund.

After this bill passed the Legislature, Senator Simitian sent a letter to the Governor urging his signature on this bill.

For more information, you can read the SB 1311 "Fact Sheet" prepared by a member of Senator Simitian's staff.

Final Status and Text

SB 1311 is no longer active. Its final status was:
Signed into Law

You can read its final text on the Legislature's Bill Information site.

News & Press Releases about SB 1311

01/01/2009 - New year means new laws taking effect

12/23/2008 - New Year to Bring Protections for Victims of Sexual Abuse, Veterans & Seniors

09/27/2008 - Governor Signs Simitian Bill To Expand Small Business Loan Program