Section 63089.96.
63089.96. (a) In addition to the authority granted by Section 63089.95, pursuant to the directives and requirements a corporation may act as guarantor on a surety bond for any small business contractor, including, but not limited to, women, minority, and disabled veteran contractors. (b) The provisions of subdivision (a) allowing a corporation to act as a guarantor […]
Section 63089.97.
63089.97. Each corporation shall provide to the program manager, in a format prescribed by him or her, the following data and reports: (a) A summary of all outstanding loans, bonds, and other credit enhancements to which a corporation guarantee, as authorized by this chapter, is attached, on a schedule determined by the program manager. (b) A summary […]
Section 63089.98.
63089.98. (a) Annually, not later than January 1 of each year commencing January 1, 2014, and notwithstanding Section 10231.5, the program manager shall prepare and submit to the Governor and the Legislature, as part of the report required by Section 63035, a report for the preceding fiscal year ending June 30, containing the expansion fund and […]
Section 63089.99.
63089.99. (a) A venture capital program is hereby established within the bank. (b) The Governor shall appoint a deputy director who shall have direct authority over the venture capital program and serve at the pleasure of the Governor. Notwithstanding any law in this chapter, the deputy director shall act under the guidance and authority of the executive […]
Section 63089.67.
63089.67. A corporation may charge the borrower or financial institution a loan fee or credit enhancement fee on all loans made or guaranteed by the corporation to defray the operating expenses of the corporation. The amount of the fee shall be determined by the directives and requirements. (Added by Stats. 2013, Ch. 537, Sec. 4. […]
Section 63089.70.
63089.70. (a) The Small Business Expansion Fund, which is hereby continued in existence, shall, among other things, provide guarantees to loans offered by financial institutions and financial companies to small businesses. (b) The Legislature finds and declares that the Small Business Loan Guarantee Program has enabled participating small businesses that do not qualify for conventional business loans […]
Section 63089.71.
63089.71. (a) Among other priorities, corporations shall give high priority to the issuance of loan guarantees to small business incubators and to businesses that lease space in incubators. (b) For the purposes of this section, “incubator” means a facility that allows new small businesses to increase their probability of success by sharing needed capital equipment, services, and […]
Section 63089.80.
63089.80. (a) A corporation may utilize funds for direct lending or other debt instruments pursuant to the directives and requirements. (b) The amount of funds available for direct lending and other debt instruments shall be determined by the directives and requirements. In its capacity as a direct lender, the corporation may sell in the secondary market the […]
Section 63089.90.
63089.90. (a) Pursuant to Section 8684.2 and the contract between a corporation and the bank, a corporation may, in an area affected by a state of emergency within the state and declared a disaster by the President of the United States, the Administrator of the United States Small Business Administration, or the United States Secretary of […]
Section 63089.95.
63089.95. In furtherance of the purposes set forth in Section 63088.1 of this code and Section 14001 of the Corporations Code, a corporation may do any one or more of the following activities, but only to the extent that the activities are authorized pursuant to the contract between the bank and corporation: guarantee, endorse, or […]