California-Based Small Businesses to Receive Grants From California Dream Fund Program

By: Sharjeel Sohaib

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Mar 26, 2022

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The California Dream Fund Program is a one-time $35 million grant program that will provide microgrants to seed entrepreneurship and small business creation in California.

Grant Amount and Qualification Criteria

The grants range between $5,000-$10,000 per eligible small business.

Small startup businesses must complete a rigorous training and consulting program with one of 17 technical assistance centers selected from CalOSBA’s Technical Assistance Expansion Program (TAEP) network.

Businesses that complete the program and qualify for the grant will be eligible to receive a microgrant of up to $10,000. Lendistry has been selected to administer the grantmaking process.

  • An established business entity after July 1, 2019
  • Complete a defined small business/entrepreneurship curriculum and one-on-one counseling
  • Complete our 90-day accelerator and commit to one year of technical assistance
  • Acquired the necessary permits and licenses to operate legally
  • Meets one of the following conditions πŸ‘‡
  1. Has made a first sale
  2. Has hired at least 1 employee
  3. Has opened a bank account
  4. Completed business plan

The California Office of the Small Business Advocate (CalOSBA) recently announced grant awards to the California Dream Fund Program’s technical support and grantmaking partners. The California Dream Fund is a $35 million one-time grant initiative that will give microgrants to encourage entrepreneurship and small company formation in the state.

The Dream Fund Program

To be eligible for the Dream Fund program, small startup enterprises must complete rigorous training and consulting programs with one of 17 technical assistance centers selected from CalOSBA’s Technical Assistance Expansion Program (TAEP) network, such as LA SBDC

New firms from Los Angeles, Ventura, and Santa Barbara counties are welcome to apply for the LA SBDC’s Dream fund training program.

Please note that participation in the training program does not guarantee to fund. The LA SBDC does not support these awards and is not in charge of deciding which businesses will be funded or how much money will be given out.

The actual training program for the LA SBDC will begin in Spring 2022. To learn more about this unique new training and microgrant program for California entrepreneurs, fill out this form.

Businesses who complete the program and qualify for the grant will be awarded a microgrant of up to $10,000. 

“Access to capital is critical for small business success, and when matched with Technical Assistance, it can make the difference between success and failure for small businesses and entrepreneurs, especially those who are under-resourced to start. California’s stellar TA network is uniquely qualified and well-positioned to provide services to diverse groups and communities across the state.” 

Tara Lynn Gray, Director of CalOSBA

CalOSBA’s current technical support network, which is concentrated on the TAEP and Capital Infusion (CIP) programs, is expanded by the Dream Fund. Since its inception in 2018, TAEP and CIP-funded technical support centers have provided free advising and no-to-low-cost training in over 30 languages to over 500,000 small enterprises.

For additional information and to see the TAEP network, go to CalOSBA’s website.

The Governor’s Office of Business and Economic Development (GO-Biz) is California’s principal agency for job creation and economic development. GO-Biz provides various services to businesses, including recruitment, retention, and expansion, site selection, permit expediting, regulatory obstacle clearing, small company aid, foreign trade development, state government assistance, and more.

About CaIOSBA

The California Office of the Small Business Advocate (CalOSBA) promotes economic growth and innovation by ensuring that California’s small companies and entrepreneurs have access to the knowledge, tools, and resources to effectively plan, start, manage, and expand their firms. The CalOSBA’s mission is to raise their voices in state government and lobby on their behalf to guarantee that all aspiring and present small business owners and entrepreneurs have access to finance, markets, and the networks and resources they need to thrive.

To know more about the California Dream Fund Program, please follow this link: https://smallbizla.org/dreamfund/#dreamfundfaq.

Author

  • Avatar Of Sharjeel

    Sharjeel joined Startempire Wire as emerging technologies editor. Earlier, he worked at Silicon Canals, a leading English language technology media source for the Benelux and wider Europe. He covered the European technology and startup ecosystem digging into latest funding rounds of startups.

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