California Investment and Innovation Program (Cal IIP) 2027

The California Investment and Innovation Program (Cal IIP) 2027 provides competitive grant funding to certified Community Development Financial Institutions (CDFIs) that operate in California and serve economically disadvantaged communities. Grants are intended to strengthen CDFI capacity, fund technical assistance, expand net assets, and leverage additional capital for community development projects. Applicants must have a minimum net worth of $25,000, a track record of at least five loans in the prior 12 months, and demonstrated lending activity in California (minimum 25% of loan portfolio and $10 M of assistance over three years). The program offers up to $10 M total, with a tiered award structure based on loan volume; 20% of funds are earmarked for small and emerging CDFIs. Awards are made as advances, with a three‑year period of performance. • Eligible applicants: Certified CDFIs (business entities) with a California presence. • Funding amount: Total $10 M; award size dependent on tier, typically $0.5 M–$2 M. • Application deadline: October 1, 2026 (17:00 UTC). • Expected award announcement: February 1, 2027. • Period of performance: 3 years. • No matching fund requirement; no letter of intent required. • Funding delivered via advance checks after board approval.