Capital Infusion Program (CIP) 2024-2025

The 2024/25 Capital Infusion Program (CIP), administered by the California Office of the Small Business Advocate (CalOSBA) within the Governor’s Office of Business and Economic Development (GO-Biz), aims to support small businesses in accessing capital through the state’s Small Business Development Centers (SBDCs). With an annual allocation of $3 million, this grant program is designed specifically for the five SBDC Network Lead Centers operating in California. Each Lead Center must submit a single consolidated application encompassing the efforts of their respective subcenters. CIP was established to bolster strategic business initiatives such as market expansion, operational improvements, and debt restructuring by providing indirect funding to small businesses through SBDC services. The program enables SBDCs to assist small businesses with acquiring capital via traditional and non-traditional funding, equity investments, and grants. The intent is to improve small business bankability and investor-readiness, especially in underserved and disadvantaged communities. The funding is distributed regionally based on population shares from the 2020 U.S. Census, with the largest allocations going to Northern California and the Los Angeles region. Each award must be matched 1:1 with U.S. Small Business Administration (SBA) funds. Allowable spending includes business consulting services, training in financial planning, capital readiness, commercialization roadmaps, and investment pitching. However, indirect costs are not reimbursable. Each Lead Center is also required to submit a Certification of SBA Cash Match as part of the application. Eligible applicants are restricted to the five California SBDC Network Lead Centers. Applications are to be submitted through the CalOSBA online portal by August 7, 2024, at 4:59:59 PM PDT. A mandatory application tutorial webinar is scheduled for July 12, 2024, immediately following the 10:30 AM PDT Technical Assistance Program webinar. During the review phase from August 8 to August 30, 2024, CalOSBA may request technical clarifications. Award notifications will be issued by September 2, 2024, and the grant program runs from October 1, 2024, through September 30, 2025. The application process includes submission of a narrative using a specific template, a detailed budget justification spreadsheet, the Certification of SBA Cash Match, and standard state forms (STD.204 and STD.21). Applicants must provide quarterly and annual reports, documenting metrics such as loans received, clients served, and capital acquired. Performance is closely monitored, and underperformance may affect future funding. Applications will be evaluated based on the applicant’s approach to service delivery, outreach strategies, partner engagement, and metric-driven outcomes. Technical questions can be directed to SBTAEP@gobiz.ca.gov, and support requests should be copied to Joy Nordby, Program Manager.