California Asian Pacific Chamber of Commerce
There are presently no open calls for submissions.
THE CALIFORNIA DREAM FUND GRANT PROGRAM APPLICATION IS CLOSED.
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The California Dream Fund Grant Program is funded by the State of California and administered by the California Office of the Small Business Advocate (CalOSBA) in conjunction with the California Asian Pacific Chamber of Commerce. Eligibility criteria applies.
The California Dream Fund Grant Program 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.
The Dream Fund is intended to seed entrepreneurship, fill opportunity gaps for underserved small business owners to help them reach greater parity in startups, initial revenue creation and job creation. The purpose of the funding is to provide financial support and seed entrepreneurship married with technical assistance to aspiring entrepreneurs in underserved business groups, including businesses owned by women, minorities, veterans, individuals without documentation, individuals with limited English proficiency, and business owners located in low-wealth and rural communities.
Once determined eligible, qualified and selected applicants will be required to attend a Cohort training program. Upon successful completion of the Cohort training program, each graduate will receive a graduation certificate and will then be able to apply for their grant funding through Lendistry.
Qualified and selected applicants will be placed in the Cohort based upon eligibility criteria and first-come, first-serve basis. In the event that you are not accepted into the Cohort, you will be placed on a waitlist and will be notified should additional placements are made available.
Disclaimer: Participation in the Cohort Training Program does not guarantee an award of the grant. Determination of being awarded the grant is based upon the items listed in the eligibility criteria including any valid supporting documentation, successful completion of the cohort training program and Lendistry's review and determinations.
- Grant application opens – November 23, 2022
- Grant application closes – November 27, 2022, or once 50 applications have been submitted, whichever comes first. *This deadline is subject to change.
- Selected participants will be notified the week of November 28, 2022.
- Cohort 4 begins December 5-16, 2022
Applications will be time-stamped and will be prioritized on a first-come, first-serve basis. Priority will be given to minority businesses, underserved, low-wealth, veteran, and women-owned businesses.
All selected participants must complete required technical assistance.
- Each participating entrepreneur must complete a defined small business/entrepreneurship curriculum and one-on-one counseling.
- Each entrepreneur/business can only apply and participate once for this program.
- Each entrepreneur must have established a legal business entity on or after July 2, 2019.
- Have submitted required documentation to start the business in the State of California, or have proof that your business has begun the registration process for a business license/permit in the State of California before completion of your selected cohort training program.
- Each participating entrepreneur must meet the definition of a new business start by fulfilling the following conditions:
Has acquired the necessary permits and licenses to operate legally AND at least one of the following:
- Has made a first sale*
- Has hired at least 1 employee
- Has created a business banking relationship
- Has spent money on business expenses; this may include legal and accounting fees*
- Meet the definition of a small business, defined as a business with 5 full-time equivalent employees or less and $1 million or less in annual receipts.
Each participating entrepreneur must agree to report on the progress of their business and usage of grant funding to the SB TAEP Center where they received their training for at least one year or until the business is no longer operating.
*Preferred qualifying events
(10) 60–minute mandatory virtual training sessions.
- Developing Your Business Concept
- Keys to Effective Business Planning
- Creating a Compelling Brand and Marketing Strategy
- Legal Structure and Intellectual Property Considerations
- Understanding and Building Personal and Business Credit
- Strategies for E-commerce, Web and Social Media
- Understanding Small Business Financial Statements
- Best Practices for Bookkeeping and Tax Preparation
- Cash Flow Management and Financial Projections
- Funding Options for Your Small Business
*Selected participants will be assigned a business advisor to complete their business plan.
*Selected participants are expected to complete all 10 training sessions through virtual participation within the timeline of their respective cohort.
*Upon successful completion of the Cohort training program, each graduate will receive a graduation certificate.
*Graduates of the Cohort training program will apply for their grant funding through Lendistry.
HOW TO APPLY:
- Create a free Submittable account or sign in with Google or Facebook credentials to submit to these forms.
- Carefully review the California Dream Fund Grant Program Guidelines below.
- Select "Apply" below to begin your application. If you're viewing through your mobile device, select the orange ">" to begin your application.
- You can save a draft of your work if you would like to finish filling out the form at a later date. However, please note that applications are received on a first-come, first-serve basis.
- If anything changes with the information you submitted, please request to edit the submission.
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- We will follow up with you about your submission by email. Please be sure to safelist notification emails from Submittable and the California Asian Pacific Chamber of Commerce.
- Check the email you used to sign up for your Submittable Account regularly.
For inquiries regarding CA Dream Fund applications, please email us at: firstname.lastname@example.org