The Climate Catalyst Revolving Loan Fund is intended to provide financial support for climate-related projects. It is intended to serve as a flexible financing mechanism to provide low-interest loans to small businesses or organizations that have difficulty attracting venture capital funding. During a recent meeting of the California State Board of Food and Agriculture, Director of the Governor’s Office of Planning and Research, Kate Gordon explained how the program worked. Gordon noted that it offers significant opportunity to help the agricultural industry implement sustainable practices.
“It might be that they are a small producer who’s seen as high risk because they don’t have a huge operation. It might be that they are seen as high-risk because they’re trying to move to a new type of process,” Gordon noted. “We’re trying to figure out a way to have that be a mechanism available for a variety of types of projects. I think there’s a lot of opportunity. When we put it in the budget last year we gave as examples: zero-emission vehicle, circular economy, and then one of them was sustainable ag actually. That was because those were areas where we saw the most potential.”
Listen to the radio report below.