The legislation signed include Assembly Bill 201, which is designed to make the Small Business Loan Guarantee program "more accessible and user friendly," according to Holden.
Also signed was Assembly Bill 250, which is aimed at helping to create more start-up companies.
“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,” Holden said in a statement.
Holden's office provided the following description of the two bills.
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,” Holden said. “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.”