Details | California Capital Access Program Seismic Safety Capital Access Loan Program


Funder

 

California State Treasurer

Implementer

 

California Pollution Control Financing Authority

Description

 

The purpose of the program is to assist California small businesses and residential property owners (including multiunit dwellings and mobile homes registered by the California Department of Housing and Community Development) with financing the costs to seismically retrofit existing buildings and homes. CalCAP is a form of Loan Loss Reserve coverage which may provide up to 100% coverage on certain loan defaults. By participating in CalCAP, lenders have available to them a proven credit enhancement to meet the financing needs of California's small businesses. roceeds from loans enrolled in the CalCAP/Seismic Safety Financing Program may be used for seismic retrofit construction alterations performed on or after January 1, 2017, of a qualified building or its components to substantially mitigate seismic damage. Seismic retrofit construction includes, but is not limited to, all of the following: Anchoring the structure to the foundation, Bracing cripple walls, Bracing hot water heaters, Installing automatic gas shutoff valves, Repairing or reinforcing the foundation to improve the integrity of the foundation against seismic damage, Anchoring fuel storage, Installing an earthquake-resistant bracing system for mobile homes that are registered with the Department of Housing and Community Development.

Funding guidance

 

Applications open

 

None

Applications close

 

None

Type

 

Secured Loan

Category

 

Financing

Territory

 

California

Applicant type

 

For Profit  |  Private Resident

Project

 

Rehabilitation of Existing Whole Building  |  Rehabilitation of Part of an Existing Building

Sector

 

Commercial  |  Industrial  |  Residential

Sub-sector

 

Multi Family  |  Single Family

Sustainability

 

Air quality and health

Additional website

 

Small business

 

True

Disadvantaged communities

 

False

Cost sharing amount

 

None

Cost sharing percent

 

None

Cost sharing note

 

Minimum repayment years

 

None

Maximum repayment years

 

10

Interest rate comment

 

Incentive