Details | California Capital Access Program Electric Vehicle Charging Station Financing Program


Funder

 

California State Treasurer

Implementer

 

California Pollution Control Financing Authority

Description

 

The goal of the CalCAP Electric Vehicle Charging Station Program is to expand the number of electric vehicle charging stations installed by small businesses in California. Millions of consumers in the state do not buy zero emissions electric vehicles because these vehicles have an average range of 8no-100 miles and there is a dearth of charging stations. This $2 million financing program provides incentives to small business owners and landlords to install electric vehicle charging stations for employees, clients and tenants. The maximum enrolled loan amount is $500,000 per qualified borrower, and can be insured for up to four years (though the actual term of the loan can be longer). Lenders set the terms and conditions of the loans and decide which loans to enroll into the EVCS Program. The EVCS Program contributes 20% of the principal balance enrolled to a loss reserve account. CalCAP will contribute an additional 10%, up to a maximum of 30%, if the installation is in a multi-unit dwelling or located in a disadvantaged community as designated in the CalEnviroScreen 2.0.

Funding guidance

 

Applications open

 

None

Applications close

 

None

Type

 

Secured Loan

Category

 

Financing

Territory

 

California

Applicant type

 

For Profit  |  Non Profit  |  Private Resident

Project

 

New Addition to an Existing Building  |  Rehabilitation of Existing Whole Building  |  Rehabilitation of Part of an Existing Building

Sector

 

Commercial  |  Industrial  |  Residential

Sub-sector

 

Multi Family

Sustainability

 

Electric Vehicle Charging Infrastructure

Additional website

 

Small business

 

True

Disadvantaged communities

 

True

Cost sharing amount

 

None

Cost sharing percent

 

None

Cost sharing note

 

Minimum repayment years

 

None

Maximum repayment years

 

4

Interest rate comment

 

Incentive