California Climate Tech Finance Loan Guarantee
$5,000,000
About the Programs
Climate Tech Finance Loan Guarantee
The Climate Tech Finance loan guarantee is a first-of-its-kind partnership between IBank, the Bay Area Air Quality Management District, and California’s seven Financial Development Corporations. The program offers loan guarantees of 80%, up to $5 million, on loans of up to $20 million, with a 7-year term.
Borrowers’ business/project must have a climate impact; however, the program is technology- and sector-agnostic.
Climate Tech Loan Guarantee Terms:
- Maximum guarantee amount: $5 million
- Loans up to $20 million
- Guarantee term: Up to 7 years
- Guarantees up to 80% of the loan
- Interest rate and qualifications determined by the lender
Climate Tech Loan Guarantee Criteria:
- Be a small business (fewer than 750 employees)
- Have a climate impact
- Be ready to commercialize in California
Climate Loan Guarantee
The program offers loan guarantees of up to 80%, with loan guarantees between $5 million and $30 million, with no loan size limit, for the life of their loan. IBank will consider guarantees above $30 million for particularly high-impact, creditworthy opportunities.
To be eligible, the borrower’s project, activity, or technology must fall within the Climate Catalyst Program’s Sectors of Focus, and meet the Six-Factor Eligibility Criteria.
Climate Loan Guarantee Terms:
- Maximum guarantee amount: Targeting $30 million, with a maximum of $100 million for particularly high-impact, creditworthy opportunities
- No loan size limit.
- Guarantee term: Up to the life of the loan
- Guarantees of 70%, or 80% for loans to businesses and projects in underserved communities.
- Interest rate and qualifications are determined by the lender
- Annual servicing fee: Between 0.50% and 1.00% the amount of the outstanding guarantee
Climate Loan Guarantee Criteria:
- Reduce greenhouse gas and other air pollutant emissions
- Use a commercial technology, defined as technologies that have been deployed for commercial purposes at least three times for a period of at least five years each in the United States
- Eligible under the Climate Catalyst Program’s National Clean Investment Fund Financing Plan. Please refer to the Sectors of Focus webpage
- Complies with applicable federal requirements. Please refer to the Federal Cross-Cutting Requirements webpage
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