San Diego Area Programs Receive Grants To Expand Banking Opportunities

SAN DIEGO, CA — Several San Diego business development programs were awarded a share of $15 million in grant funding announced Tuesday by State Treasurer Fiona Ma through the California Innovation and Investment Program.

The program, run by the state's California Pollution Control Financing Authority, is headed by Ma.

"Small businesses power the California economy," said Treasurer Ma. "By distributing these funds in local communities, they allow our partners to tailor programs that meet the unique needs of those communities and help small businesses thrive."

The awards in San Diego County were:

-- $180,303 for nonprofit Accessity to provide small business loans and education;
-- $180,303 for nonprofit Civic Community Partners to increase lending in economically disadvantaged areas of the county;
-- $180,303 for nonprofit International Rescue Committee's Center for Economic Opportunity for loan loss reserves; and
-- $428,571 for National City's Springboard CDFI, a home loan institution, to hire staff, expand technology and make progress on a warehouse line of credit program.

— City News Service