SAFE-BIDCO (which stands for State Assistance Fund for Enterprise, Business, and Industrial Development Corporation) was established by the California legislature in 1981 as a non-bank lender and financial development corporation.
Originally, SAFE-BIDCO was designed to help small business with providing loans and expertise to assist in energy conservation and production technologies. Over the course of the 1980s, this role was expanded to include the small business lending and participation in the state’s loan guarantee program.
In 1997, SAFE-BIDCO expanded further and began offering targeted federal loan programs in northern California communities.
Currently, SAFE-BIDCO offers a number of loan programs, including:
- State Loan Guarantee Program
- SBA Loans 7(a)
- Rural Loan Program
- Energy Efficiency Loans
- Farm Loans
- Native American Loans
- Disaster Recovery Loans (effective in case of state declared disaster)
Additionally, SAFE-BIDCO provides loan fund management services, small business mentoring programs, and numerous other programs designed to help California’s small businesses and the communities they serve grow and prosper.