In late February, Senator Leland Yee (D-San Francisco) (in collaboration with State Controller John Chiang) introduced California Senate Bill 1465. The legislation would seek to provide credit support for small renewable energy and agricultural businesses in the form of loan guarantees. By doing so, the bill hopes to “facilitate export expansion” and promote job retention and growth in these sectors.
I think we are all well aware of the recession that has gripped the country as a whole and many states – California included. One of the many negative impacts of the economic climate has been the inability of small businesses to secure much-needed financing. This is particularly true for emerging small businesses like those in the renewable energy sector. That is where SB 1465 hopes to come in.