California Investment and Innovation Program (Cal IIP) 2027

State Treasurer's Office

Cal IIP was established to provide grants to enhance the capacity and ability of community development financial institutions (CDFIs) to provide programs including technical assistance and access to capital to economically disadvantaged communities throughout California.

Quick Facts

Funding
Up to $10,000,000
Deadline
Oct 1, 2026
Status
Accepting Applications
Category
Regional & Community Development
Organization
State Treasurer's Office

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What Is This Program?

Cal IIP was established to provide grants to enhance the capacity and ability of community development financial institutions (CDFIs) to provide programs including technical assistance and access to capital to economically disadvantaged communities throughout California. The Legislature designed Cal IIP to provide grants enhancing the capacity and ability of community development financial institutions (CDFIs) to provide programs including technical assistance and access to capital to economically disadvantaged communities throughout California. CDFIs can use the grants to fund services and operations that contribute to the CDFIs overall community development mission and goals. CDFIs can also use the grants to supplement their net assets and increase the capacity to attract additional funding.

What Benefits Are Offered?

grantadvisoryaccess to capital

Grants enhancing capacity and ability of Community Development Financial Institutions (CDFIs) to provide technical assistance and access to capital to economically disadvantaged communities throughout California. Funds can be used for services, operations, or to supplement net assets and attract additional funding. Funding amounts are dependent on a tier system and the total amount of loans closed by each applicant in the last fiscal year.

Who Is Eligible?

Business Size: small, emerging

Industries: community development financial institutions (CDFIs)

Region: California

Demographics: economically disadvantaged communities (served by CDFIs)

Other Criteria: Certified Community Development Financial Institution (CDFI) by Code of Federal Regulations, minimum net worth of $25,000, 5 loans in the 12 months prior to application submittal, must have an office in California, officers living in California or a record of lending in California (at least 25% of loan portfolio to CA projects), provided financial assistance in California totaling $10 million in the 3 years prior, 20% of funds available are for small and emerging CDFIs

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FAQFrequently Asked Questions

This program is available to small, emerging businesses in community development financial institutions (CDFIs) industries located in California.

This program offers funding up to $10,000,000.

The application deadline is October 1, 2026.

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