Dream Fund micro-Grants

The California Dream Fund Grant Program (CDFG or Dream Fund) was created in 2021 by Senate Bill No. 151 (Government Code Section 12100.63) to provide micro-grants up to $10,000 to seed entrepreneurship and small business creation in underserved small business groups that are facing capital and opportunity gaps. These micro-grants shall be made available to startup clients participating in intensive startup training and consulting with the centers that are designated by the Small Business Technical Assistance Expansion Program, like Caravanserai Project. 

The Dream Fund provides approximately thirty-five million dollars ($35,000,000) in one-time grant funding to provide micro-grants of up to $10,000 to small businesses that participate in training and consulting programs through SB TAEP centers. Funding will be disbursed through a third-party administrator selected by CalOSBA. 

In 2021, Caravanserai Project was awarded a California Small Business Technical Assistance Expansion Program (SB TAEP) grant. Being a 2021/2022 SB TAEP grantee is a requirement to become a Dream Fund Program Center.

The SB TAEP was created in 2018 to expand the services of federally awarded small business technical assistance programs that provide one-on-one confidential free or low-cost consulting and training to small businesses and entrepreneurs in this state.

SB TAEP was enacted in Government Code Section 12100-12100.69. The Office of the Small Business Advocate (CalOSBA) within the Governor’s Office of Business and Economic Development (GO-Biz) is charged with administering and providing oversight for SB TAEP.

The amount awarded is based on the application, progress during the Business Readiness Training Program and the  road map and budget developed by the participant. 

For the purpose of the Dream Fund Program, a start-up venture is defined as a new business that 

• is registered or obtained a business license in the State of California after July 1, 2019

• for which required documentation to start the business in the State of California have been submitted

• at least one of the following: a)has made a first sale; b) has hired at least 1 employee; c) has created a business banking relationship; d) has spent money on business expenses (may include legal and accounting fees) 

   

   

   

   

   

No. As Dream Fund Program Center, Caravanserai Project offers technical support and capacity building, namely the Business Readiness Program and one-on-one mentoring sessions.

Funding will be disbursed through a third-party administrator selected by CalOSBA.

Caravanserai Project will work with the grant maker and recommend the participants for the micro-grants and the value of the grants to be awarded.  

Yes. Only entrepreneurs who successfully graduate the Caravanserai Project Business Readiness Program and attend one-one-one mentoring sessions will be recommend for the Dream Fund micro-grants.

Up to $10,000 will be awarded as micro-grants.

No. The entrepreneur are eligible to receive only one micro-grant.

Any nonprofit or for-profit enterprises are eligible to apply as long as they fulfill the other requirements for the Dream Fund Program. 

Because Caravanserai Project’s goal is to support enterprises that are mission-driven/social impact driven, our organization will priorities ventures that demonstrate such commitment.