IBank California

The California Infrastructure and Economic Development Bank (IBank) is the State of California’s only general purpose financing authority. The Legislature created IBank in 1994 to finance public infrastructure and private development that promote a healthy climate for jobs, contribute to a strong economy, and improve the quality of life in California communities. IBank is located in the Governor's Office of Business and Economic Development (Go-Biz), has a five-member Board of Directors, and an Executive Director who runs the day-to-day operations. IBank has broad statutory authority to issue tax-exempt and taxable revenue bonds, provide loans to state and local governments for public infrastructure and economic expansion projects and loan guarantees to help small businesses. IBank's current programs include the Infrastructure State Revolving Fund (ISRF) Program; Bond Financing Program, including: 501(c)(3) Bonds, Industrial Development Bonds; Exempt Facility Bonds; and Public Agency Revenue Bonds; as well as the Small Business Finance Center. In addition, IBank created the California Lending for Energy and Environmental Needs Center – CLEEN Center – to help meet the State’s Greenhouse Gas Reduction Goals. IBank operates according to the Bergeson-Peace Infrastructure and Economic Development Bank Act in California Government Code Sections 63000 et seq.