Loan and insurance
Small business loan programs
In an effort to enable all segments of the business community to take part in our contracting opportunities, SMUD has partnered with several organizations to provide small businesses with access to capital through various loan guarantee programs.
Loan guarantees are available for loans under $500,000 with a 20 percent loan guarantee by SMUD, added to California Capital's guarantee of up to 65 percent, for a maximum guarantee of up to 85 percent. Guaranteed lines of credit for working capital necessary to perform contracts can be used by businesses contracting or subcontracting with SMUD.
For more information on this and other loans for small businesses, call California Capital at 916-442-1729.
SPARTA Insurance Program
To assist small contractors with obtaining affordable insurance that meets SMUD contract requirements, SMUD has enrolled in the Service Providers Artisan Tradesman Activities (SPARTA) Insurance Program.
The SPARTA program offers general liability, excess general liability and professional errors and omissions liability coverage on a per project basis that is compliant with SMUD's insurance requirements.
Insurance premiums are based on the scope and expense of the work to be performed for SMUD by the contractor.
Contractors can obtain coverage quotes by calling the SPART insurance broker at 1-800-420-0555.