Sacramento, CA – Governor Brown today signed two innovative business bills authored by Assemblymember Chris Holden (D-Pasadena) and designed to boost California's economy.
AB 201 makes the Small Business Loan Guarantee program more accessible and user friendly and AB 250 expands opportunities for pioneering, start-up technology in California.
"I applaud the Governor for signing these bills which will play a pivotal role in making much needed capital more accessible to thousands of small businesses so they can enlarge, create new jobs, and save the jobs of existing employees," stated Assemblymember Holden.
AB 201 requires the Office of Small Business Advocate to include on its website information on the Small Business Loan Guarantee program's (SBLGP) loan guarantees, direct lending, surety bond guarantees, and disaster loans.
AB 250 will expand the development of iHubs across California and develop more economic opportunities for start-up companies, promoting greater collaboration between innovators and venture capital investment within the state.
"We want to put California in a position to cultivate and incubate young companies that are developing new technologies that will promote conservation and other public policy goals," explained Assemblymember Holden. "Establishing the iHub Accelerator Fund will allow the state to compete for grant funding from the federal government, private sector and foundations to encourage innovation."