CalCCI Celebrates Two Major Victories for California CDFIs

CalCCI is celebrating two major victories for California’s CDFIs and the communities they serve!

Governor Gavin Newsom and the Legislature have approved nearly $6.5 million secured for California Investment and Innovation Program (Cal IIP) in the 2026–27 state budget, ensuring the program continues investing directly in California CDFIs.

This milestone follows another significant win: Newsom has signed SB 700 (Grayson), a CalCCI-sponsored bill that creates a new pathway for the State Treasurer to direct existing program resources to Cal IIP—opening the door to sustained investment in CDFIs for years to come.

Together, these victories are a powerful recognition of the essential role CDFIs play in California from financing affordable housing, small businesses, childcare, community facilities, and rural and Tribal communities.

We are incredibly proud of what CalCCI, our members, our legislative champions Senator Tim Grayson and Assemblymember Mark Gonzalez , and partners accomplished together and are excited to build on this momentum in 2027. Learn more about our campaign here.