The California Rebuilding Fund (CARF) provided flexible financing to California small businesses. Participating Community Development Financial Institutions (CDFIs) provided loans up to $100,000 to eligible California small businesses, which could be used for working capital, inventory, refitting for new social distancing guidelines, and more. 

Between January 2021 – June 2022, the Fund led to the deployment of more than 1,300 loans and distributed $73 million. 

60 Decibels, a measurement company that helps organizations around the world better understand their clients, suppliers, and beneficiaries, was engaged to evaluate the impact of this program. Using feedback gathered directly from program participants, 60 Decibels produced a report – California Rebuilding Fund Insights. This report can be used by CDFIs, financial institutions, policymakers and others as we work together to create future programs that support small businesses. 

Highlights from the report include: 

• 66% of respondents had never borrowed money for their business prior to the CARF loan 
• 63% of respondents indicated that they could not have easily found a good alternative to the CARF loan 
• 77% of respondents said that their stress levels related to finances has decreased as a result of the CARF loan