Small Business Development Corporation of Orange County congratulates California Business Bank on its recent designation as a member institution of the California Infrastructure and Economic Development Bank (IBank). We welcome them to the family of lenders who are able to make a significant difference within the small business community by offering IBank’s capital access programs to companies whose growth is dependent upon such resources. The involvement of community lenders in IBank’s programs is paramount to the success of small businesses and nonprofits, which in turn supports the state’s economy. It’s a win-win scenario for all involved.
California Business Bank (CBB) was founded in 2005 and is based in Irvine, California. A Fin-Tech leader, CBB has delivered innovative financial products and services to Southern California businesses and entrepreneurs for more than 15 years. CBB has been personally involved in various communities throughout its vast footprint by investing time, capital, and resources in their business communities through essential partnerships that create a meaningful and long-lasting impact on communities in Southern California.
The IBank was created by the state legislature in 1994 to finance public infrastructure and private development that promote a healthy climate for jobs, contribute to a strong economy and improve the quality of life in California communities. It is a self-supporting entity financed through service fees and interest earnings. Its multiple programs include those through its Small Business Finance Center, namely the Jump Start Loan Program, Small Business Loan Guarantee Program, Farm Loan Program and the California Disaster Relief Loan Guarantee Program.As of October 2019, IBank had financed more than $55 billion in infrastructure and economic development projects.
