Caravanserai Project has joined the California Dream Fund Grant Program established in 2021 by Senate Bill No. 151 to provide microgrants to seed entrepreneurship and small business creation in underserved small business groups that are facing capital and opportunity gaps.
As part of the Dream Fund Grant Program, Caravanserai Project will provide technical support to up to 60 start-up mission-driven entrepreneurs (for profit and nonprofit) in California, with a focus on the Inland Empire but not exclusively, and facilitate access to Dream Fund micro-grants of up to $ 10,000. (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.).
Eligibility for the Dream Fund Micro-grant Program
Dream Fund Grantees are Eligible for the Lingafelter Development Award
The Caravanserai Project Business Readiness Training Program
The Program is designed to support mission-driven start-up entrepreneurs (for-profit and nonprofit) better understand and implement the steps and strategies they need to consider as they launch and advance their venture. The program includes 7 mandatory workshops and one-on-one mentoring sessions aimed to strengthen their capacity to build sustainable and profitable businesses while achieving the desired social impact.
Eligibility For The Caravanserai Project Business Readiness Training Program
Caravanserai Project is committed to support start-up mission-driven entrepreneurs from historically marginalized and underserved communities and areas and strives to eliminate the inherited barriers that these individuals face.
We encourage applications from aspiring mission-driven entrepreneurs based in the Inland Empire especially:
Frequently Asked Questions
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.