Over 10K Jobs Created or Preserved through COVID-19 Micro Loan Guarantees
California Infrastructure and Economic Development Bank (IBank) recently celebrated an amazing milestone – more than 10,000 jobs created or retained by California small businesses since April 2020 through IBank’s Covid-19 Micro Loan Guarantee Program. This initiative, which resulted in $92 million in approved loans, represents a state investment of $50 million in the wellbeing of its most vulnerable businesses during a critical time. Small and micro businesses are our state’s economic lifeblood. As such, Small Business Development Corporation of Orange County is profoundly grateful for the important work of IBank in supporting these business communities, for the lenders who collaborate with SBDC-OC in providing crucial funding, and for our community leaders for building awareness and continuing their commitment to assist local business owners. Improving and maintaining the health of our economy is truly a team effort.