The California Dream Fund Grant Program (CDFG or Dream Fund) was created in 2021 by Senate Bill No. 151 to provide microgrants up to $10,000 to seed entrepreneurship and small business creation in underserved small business groups that are facing capital and opportunity gaps. These microgrants 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.

Your business is eligible for the opportunity to apply for the California Dream Fund if:

• Business must be located in Orange, Riverside or San Bernardino County

• Business must have started on or after July 1, 2019

• Complete all trainings of an approved OCIE SBDC training program

• Has begun one-on-one consulting with OCIE SBDC

• Receive appropriate licenses and permits to start the business in the state of California

• Complete California Dream Fund Approved business plan

• Must have a “qualifying event” that starts the business

  • Must be formally registered to do business in Orange, Riverside, or San Bernardino County
  • Businesses can start the program without being registered but must be able to show proof of registration prior to being referred for a grant.
  • Business registration must have occurred on or after July 1st, 2019.
  • Entities must also demonstrate they are "in business" by having completed one of the following:
    • Has made their first sale
    • Has hired at least one employee, or
    • Has created a business banking relationship, or
    • Has spend money on business expenses (this includes legal and accounting fees) 

• Must attend a “How to Complete the California Dream Grant” webinar

• Must agree to complete periodic surveys sharing business performance data.

• Must not have been employed by the Norcal SBDC Network or one of its centers in the past 18 months or be immediate family of an employee.

• Must not have received a Dream Fund Grant being offered by another entity.

1. Complete an OCIE SBDC approved Dream Fund training program.
2. Begin 1-on-1 consulting with an OCIE SBDC consultant.
3. Complete the required documents:
   1. California Dream Fund approved Business Plan
   2. Complete all the necessary licenses and permits to legally start the business.
   3. Open a business bank account
4. Have a "Qualifying" event to start the business.
   1. A sale
   2. Hire a W-2 employee
   3. Invest money into the business
5. Complete a survey at the completion of the training program.
6. Attend an OCIE SBDC Application webinar.
7. Receive a completion certificate and special Lendistry application code from the OCIE SBDC.
8. Apply for the California Dream Fund.

A qualifying event would include:

• Must be formally registered to do business in Orange, Riverside, or San Bernardino County
• Businesses can start the program without being registered but must be able to show proof of registration prior to being referred for a grant.
• Business registration must have occurred on or after July 1st, 2019.
• Entities must also demonstrate they are "in business" by having completed one of the following:
  • Has made their first sale
  • Has hired at least one employee, or
  • Has created a business banking relationship, or
  • Has spend money on business expenses (this includes legal and accounting fees) 

A small business is considered a business with 5 employees or less and $1 million or less in annual receipts.

Because funds are limited, this grant program is only available to businesses that complete all aspects of a cohort training program (including meeting with an SBDC consultant). The OCIE SBDC anticipates approximately 600-700 grants will be awarded through the OCIE SBDC California Dream Fund Training Program before 12/31/2022.

The program is first-come, first-served, and there is a possibility not all who complete the training and consulting will be eligible for the grant.

No, the California Dream Fund is first come-first serve. The OCIE SBDC estimates roughly 650 grants will be awarded from the region.

There is no deadline to apply, but the program is on a first come, first served basis. There is also limited room in each training program cohort so we encourage you to sign up as soon as possible.

Eligible entities will be able to apply for up to $10,000. The specific grant amount is predetermined by the program rules and is based on business type, subject to validation, and non-negotiable.

Grant amounts - $10,000

• Brick and Mortar Business with a signed lease
• Technology Company
• Childcare Business
• Manufacturing Business

Grant Amounts - $5,000

• E-Commerce Business
• Home-Based Business
• Makers Space
• Food/Catering Business (non-leased space)
• Marketplace/Swapmeet
• Mobile Beauty Business
• Any sub-lease of space (Office, Beauty Salon, Swapmeet, etc.)

Each participant of the Dream Fund can only apply one-time for funding, no matter how many businesses they are planning on starting.

To qualify for the California Dream Fund, a participant must attend every session of the training program they sign up for.

The OCIE SBDC anticipates 600-700 grants will be awarded to businesses in the Orange, Riverside, and San Bernardino region.

Neither income status nor citizenship status are questions that will be asked to determine eligibility. Applicants must be over 18 years old.