California Capital Access Program (CalCAP)
CalCAP offers Crossroads a mechanism to provide loans to small businesses that may not otherwise be able to get a loan. With CalCAP's portfolio insurance, Crossroads is able to cover portions of loans that exceed the risk threshold normally set for most business loans. CalCAP's flexibility includes:
- With very few exclusions, virtually any business loan is eligible under CalCAP.
- CalCAP provides insurance to Crossroads' portfolio of loans. Funds are placed in a loss reserve account as each CalCAP loan is enrolled.
- CalCAP allows Crossroads to cover loans beyond its conventional risk threshold whether it is for all of a loan or only a portion.
- Crossroads can restructure loans by extending the terms of CalCAP loans, amending covenants or releasing collateral.
- 100 or less employees
- 10 or less trucks / $2,500,000 max loan amount
- $10 million or less in revenue (this is an average of the last three years)
- Must conduct more than 50% of business in California
- On Road Diesel Truck
- Greater than 14,000 lbs. GVWR
- 2010 or Newer Replacement Engine
- VIP or 1B Grant Funds Eligible
- All Truck Types: Tractors, Yard Goats, Tow Trucks, Straight Trucks, Transfers, Dump etc.
- Trailers are eligible if purchased in conjunction with a 2010 compliant engine
- All Trailer Types: Regular box, Car carrier, Refrigerated unit, Liquid tanker