The California Dream Fund
The California Dream Fund is a grant program to seed entrepreneurship and small business creation in the State of California. The California Dream Fund is administered by the California Office of the Small Business Advocate (CalOSBA) through select centers of the Technical Assistance Expansion Program.New entrepreneurs and small business owners will complete an intensive training program through select participating centers of the Technical Assistance Expansion Program (TAEP). Upon successful completion of the training and consulting program, eligible participants will be able to apply for a microgrant of up to $10,000 based upon program guidelines. All grants are subject to final approval after requirements have been met. Please Note: program changes and modifications can be amended by CAlOSBA’s discretion.
The program is for those who are starting their first business and who have started the formal business registering process after 07/01/2019.
The Steps to Be Ready to Apply for the Dream Fund
- Review eligibility and industries eligible for the Dream Fund.
- You must complete a business training program and required counseling by enrolling and successfully completing the program with a Participating Center. The proposed entrepreneur/small business owner and its proposed new business should be located in the territory of the Participating Center. You should have completed the program after October 1, 2021. Please note: Each Participating Center has different business training programs and requirements to enroll, attend and to successfully complete. In addition, their training schedules will vary according to location and organization. It is suggested that you understand their requirements before you enroll. Once enrolled in a program, meet their requirements and successfully complete all training and counseling requirements, you will then receive a “Certificate of Completion” from the Participating Center.
- The next step is that you must do or have done the following in formalizing your business:
- Obtain appropriate licenses and permits to start the business in the state of California
- Complete California Dream Fund Approved business plan narrative
- Must have a “qualifying event” that starts the business by having completed one of the following “Qualifying” events:
- Make their first sale
- Hire at least one employee, or
- Has established a business banking relationship, or
- Has spent money on business expenses (this includes legal and accounting fees)
d. Must agree to adhere to reporting requirements to monitor progress of business; and, if awarded a grant, sign a publicity release.
e. Establish a Business Banking Account
Please note: Must be a business with 5 FTE employees or less and $1 million or less in annual receipts.
- After completing the above, you can now apply for the CA Dream Fund Grant. You can do this by working with the Participating Center from which you obtained training. More information on the application process can be found at www.cadreamfund.com