CA AB2607

Increases the maximum qualified loan amount under the California Americans with Disabilities Act Small Business Capital Access Loan Program from $50,000 to $250,000

Extends loan term limits and recapture periods from 5 years to 15 years for loss coverage on qualified loans

Transfers all moneys from the California Seismic Safety Capital Access Loan Program Fund to the California ADA Small Business Capital Access Loan Program Fund

Expands allowable uses of fund moneys to include direct financial assistance to eligible projects, such as loans, loan loss reserves, interest rate reductions, and monetary contributions

Modifies administrative expenditure limits to include 5% of interest earned in addition to 5% of the initial appropriation and 5% of recaptured moneys