California § 63088.6. 63088.6. (Added by Stats. 2013, Ch. 537, Sec. 4.)

California Statutes

§ 63088.6. — 63088.6. (Added by Stats. 2013, Ch. 537, Sec. 4.)

California § 63088.6.

JurisdictionCalifornia

Code GOVGovernment Code - GOV

Div.1.

Title 6.7.DIVISION 1. THE BERGESON-PEACE INFRASTRUCTURE AND ECONOMIC DEVELOPMENT BANK ACT

Ch. 6.CHAPTER 6. Small Business Financial Assistance Act of 2013

Art. 3.ARTICLE 3. Purpose

This text of California § 63088.6. (63088.6. (Added by Stats. 2013, Ch. 537, Sec. 4.)) is published on Counsel Stack Legal Research, covering California primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Cal. Government Code - GOV Code § 63088.6. (2026).

Text

To implement its responsibilities, a corporation shall undertake program activities that shall include, but not be limited to, the following:

(a)Outreach to low-resource small businesses and microbusinesses. The corporations located in rural areas shall give priority to low-resource farmers and rural and agriculturally related businesses.

(b)Collaboration with other organizations and lenders to identify and assist those businesses that are creditworthy but face impediments to accessing conventional sources because of reasons, such as low equity, inadequate collateral, unacceptable legal structure (such as a co-op or nonprofit organization), management inadequacies, and language problems.

(c)To the extent possible, bringing all possible financial resources to bear on the borrower’s

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To implement its responsibilities, a corporation shall undertake program activities that shall include, but not be limited to, the following:
(a)
Outreach to low-resource small businesses and microbusinesses. The corporations located in rural areas shall give priority to low-resource farmers and rural and agriculturally related businesses.
(b)
Collaboration with other organizations and lenders to identify and assist those businesses that are creditworthy but face impediments to accessing conventional sources because of reasons, such as low equity, inadequate collateral, unacceptable legal structure (such as a co-op or nonprofit organization), management
inadequacies, and language problems.
(c)
To the extent possible, bringing all possible financial resources to bear on the borrower’s problems, including, but not limited to, low-interest lenders, business and industrial development corporations (BIDCOs), minority enterprise small business investment companies (MESBICs), and other financial institutions, financial companies, and grantors.
(d)
Technical assistance to businesses receiving loans or guarantees that will maximize the probability of loan repayment.
(e)
Ongoing strategies for increasing program resources through private sector involvement and nonstate funds.
(f)
A program for collecting and liquidating defaulted loans so that the corporations can qualify to become full-service lenders under the
Small Business Administration. Corporations located in rural areas shall, in addition, try to qualify for lender status under the United States Department of Agriculture’s Rural Development and Farm Services Agency.
(g)
Become an agent for other financial institutions and financial companies.
(h)
Become an agent for other state or federal governmental agencies that need a qualified financial service provider, including, but not limited to, the State Energy Resources Conservation and Development Commission.