California-Specific Funding Programs
- CalCAP (California Capital Access Program): state-supported credit enhancement, slow approval, lower rate
- IBank (California Infrastructure Bank): infrastructure-focused, lender-of-last-resort role
- California state SBA programs: standard SBA 7(a) and 504 with state-overlay programs
- Local CDFIs (Opportunity Fund, Pacific Community Ventures): small loans, community focus
- Private direct lenders (us): $25K-$5M, 4-24 hours, FICO 500+
When Each Option Wins
CalCAP/IBank: 60-120 day timeline OK, want lowest rate, fit specific program criteria.
SBA: long-term capital, lowest rate, can wait 60-120 days, have full documentation.
Online lenders (Bluevine, OnDeck): under $250K, 1-7 days, prefer software-driven application.
Direct private lenders (us): $25K-$5M, 4-24 hours, FICO 500-680, want single direct relationship.
Comparison Table
| Type | Speed | Amount | Rate | FICO Min |
|---|---|---|---|---|
| CalCAP/IBank | 60-120 days | $5K-$2.5M | Varies | Varies |
| SBA 7(a) | 60-120 days | Up to $5M | 11-13% APR | 680+ |
| Online lenders | 1-7 days | $5K-$250K | Factor 1.15-1.40 | 600+ |
| Direct private (us) | 4-24 hours | $25K-$5M | Factor 1.15-1.49 | 500+ |
What California Operators Should Avoid
- Predatory factor rates above 1.55
- Brokers who won't disclose total dollar cost
- Lenders requiring upfront fees before approval
- Stacking applications across 10 lenders simultaneously
- Comparing factor rates only — calculate total dollar cost