Senate Bill No. 151 (Government Code Section 12100.63) established the California Dream Fund Grant Program (CDFG or Dream Fund) in 2021 to provide micro-grants of up to $10,000 to seed entrepreneurship and small business creation in underprivileged small biz groups that are facing capital and disparities. 

These micro-grants will be made accessible to startup customers enrolled in rigorous startup training and consultation with the Small Business Technical Assistance Expansion Program’s authorized centers, such as Caravanserai Project.

The California Dream Fund Program, worth $35 million, awards microgrants of up to $10,000 to foster the establishment of small businesses and entrepreneurship in the state. Child care, service, cottage food, green technology, retail, and manufacturing will be areas of concentration.

Definition of a Startup by Dream Fund

A new business is defined as a startup endeavor for the Dream Fund Program. According to Dream Fund, a new business:

1. after July 1, 2019, must have registered or secured a business license in the state of California.

2. has filed the necessary paperwork to create a business in California. 

3. possess at least any one of these:

    (a) has made at least one sale; 

    (b) has employed at least one employee; 

    (c) has established a business banking relationship; 

    (d) has spent money on company expenditures (may include legal and accounting fees)

Caravanserai Project becomes part of the Dream Fund Program!

The Caravanserai Project announced that they had become part of the California Dream Fund Program. As it is now a part of the Dream Fund, they are excited to help young entrepreneurs start their businesses.

This program supports entrepreneurs with capital and resources that help them build and scale their businesses while strengthening local economies throughout California by creating new jobs.

The California Dream Fund is dedicated to providing immigrant entrepreneurs with access to capital and resources that will help them become successful business owners in the United States. It offers low-interest loans from $10,000 to $200,000 to immigrant entrepreneurs. 

To find out more about the California Dream Fund and how you can get involved, check out their website at:

https://caravanseraiproject.org/dream-fund/

They are excited to be among the few organizations selected for this grant, which will be used to bring their product to more communities around the world.

Caravanserai provides training and mentorship for young entrepreneurs and access to capital and networks. They also offer support in the areas of marketing, human resources, and operations. Caravanserai is currently accepting applications from young entrepreneurs who are interested in starting their own businesses.

Author: 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.