An entrepreneur must comply with the following conditions in order to qualify for a Dream Fund Grant.

1. Complete a defined small business/entrepreneurship curriculum and one-on-one counseling, as certified by a Dream Fund awarded TA center.

2.  Have established a legal business entity after July 1, 2019.

3. 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:
      1. Has made a first sale*
      2. Has spent money on business expenses; this may include legal and accounting fees*
      3. Has obtained capital for the business
      4. Has hired at least 1 employee(must be a W2 employee)
      5. Has created a business banking relationship
    • 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 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

1. Businesses that registered prior to July 1, 2019;
2. Businesses without a physical location in California;
3. Nonprofit businesses not registered as either a 501(c)(3), 501(c)(6) or 501(c)(19);
4. Government entities (other than Native American tribes) or elected official offices;
5. Businesses primarily engaged in political or lobbying activities (regardless of whether such entities qualify as a 501(c)(3), 501(c)(6) or 501(c)(19));
6. Passive businesses, investment companies and investors who file a Schedule E on their personal tax returns;
7. Churches and other religious institutions (regardless of whether such entities qualify as a 501(c)(3), 501(c)(6) or 501(c)(19)) , other than a school, child care, or other educational business affiliated where (i) greater than 50% of the gross annual revenue is derived from the school, child care facility or educational business and (ii) the grant will be used only for eligible costs and expenses directly related to the school, child care, or other educational business, and no portion of the grant will be used for any normal profit or overhead of the church or other religious institution;
8. Financial businesses primarily engaged in the business of lending, such as banks, finance companies and factoring companies;
9. Businesses engaged in any activity that is illegal under federal, state or local law; and
10. Businesses of a prurient or sexual nature.

No, cannabis businesses are not eligible.

No, the registration must be after July 1, 2019.

No, in order to ensure that funding reaches as many entrepreneurs as possible, owners may only participate on behalf of one business.

The business owner needs to complete the full training and consulting program. Please ensure that they are present and participating in the full training and consulting program.

“Small business” for the Dream Fund Program means a business with 5 employees or less and $1 million or less in annual receipts.

A business may have no more than five full time equivalent employees, not counting the owner the business must also attest that they receive less and $1 million or less in annual receipts.

Yes. Sole proprietors are eligible. Sole proprietors will be required to provide all of the required documents required by all applicants, including a Fictitious Business Name (FBN), as part of their application.

Family members may not be enrolled by, trained by, or receive consulting from a family member who is an employee at a Dream Fund TA provider.

Yes. However, please know that the list may not be exhaustive as there may be cases of unique business types and licenses that arise as the program is implemented. We are committed to working together with centers and Lendistry to address each case as it comes up.

A qualifying event is one of the eligibility criteria for the program. A qualifying event is at least one of the following activities. Please note that the qualifying events with a “*” are preferred. Businesses are strongly encouraged to achieve as many qualifying events as possible: 

• Has made a first sale*
• Has spent money on business expenses; this may include legal and accounting fees*
• the client obtains capital for the business*
• Has hired at least 1 employee
• Has created a business banking relationship

“New Business Start” means a new business entity established following substantive training and counseling at a SB TAEP Center. This is established by the following verified conditions: the client completed the Dream Fund participant training program; and the client obtains the necessary licenses and permits to operate their business with help from the SB TAEP Center; the client has established a physical location for their business and at least one of the following qualifying events: client has made a first sale, the client hired at least 1 employee, the client created a business banking relationship, the client has spent money on business expenses, this may include legal and accounting fees, and/or the client obtained third-party or owner capital for the business. The qualifying event is the item that will be included in the application process and verified by Lendistry.

This would only be required if the city or county in which the business is operating requires a business license.

The nonprofit would need to obtain their own EIN and register with the Department of Justice as a separate organization that files a form 990. The nonprofit would need to take necessary steps to ensure their revenue streams are accounted for completely separately from the church.

To qualify for the Dream Fund, a business must have registered after July 1, 2019. A business established under an existing business does not qualify. 

No. Per statute, the business registration must have occurred after July 1, 2019.

No. The Dream Fund is intended to spur entrepreneurship and job creation.

This program will rely on the small business’s NAICS code (as reported on the small business’s most recent tax return if available, or the small business’s attestation to eligibility from the SB TAEP) to validate business type.

It is the expectation of the Dream Fund program that centers provide ongoing training and consulting to support business through their first year of business (and beyond). The business will need to maintain records for a minimum of two (2) years and agree to continued reporting for one (1) year after the program closes.

Grants will be issued on a rolling basis in line with each center’s grant reservation. CalOSBA and Lendistry will provide additional information soon about the specific process and timing of grants.

The center will certify, in their expert capacity, the category that the business belongs to.

Yes. The Business Plan Narrative must be completed in an approved template that is provided by your participating Technical Assistance Extension Program center.

Yes. The Business Plan Narrative can be handwritten provided that the applicant is usng the approved Business Plan Narrative template. Repsonses must be written in English and with neat penmanship. 

No. The award is a grant and is not a loan that is required to be repaid. However, the State of California has the right to seek all available remedies for failing to comply with the terms and conditions of the grant, including, without limitation, if the grantee was ineligible, used funds for unauthorized purposes or made false statements in connection with the grant application.

Yes, you will receive tax information related to the grant proceeds, which you will need to report on your tax returns. Please consult with a tax professional for additional information.

You will receive a confirmation email from [email protected] to confirm your application has been received. If more information or documents are needed, Lendistry may contact you by email, phone, and/or text (if authorized) to verify the information you submitted. Lendistry is available to assist you in understanding what business information is needed and how to upload documents.

Confirmation emails come from Lendistry at [email protected]. If you did not receive a confirmation email after submitting your application, please check your spam folder for emails from [email protected] and add the email address to your email account’s safe sender list.

TIP: Place “Lendistry” in your search bar.

For Lendistry to review an application, applicants must upload all the following required documentation:

1. Application Access Code*

2. Application Certification/Attestation;

3. Government-Issued Identification;

4. Proof of Business Organization (at least one of the following):

• • • Articles of Incorporation;
    • Articles of Organization;
    • Business License;
    • Fictitious Business Name;

5.Professional/Board/Occupational Licensure (where applicable);

6. 2019 and/or 2020 full and complete/unaltered Tax Returns (where businesses were operational in those periods);

7. Business Plan Narrative;

8. Registration with the Department of Justice Charitable Trust Registry (for nonprofit organizations only); and

9. Assistance Certificate of Completion.*

*The California Dream Fund is only available through select centers of the California Small Business Technical Assistance Expansion Program (TAEP) Network of Centers.

To be eligible for a grant, new entrepreneurs and small business owners must successfully complete an intensive training and consulting program through a participating center to be eligible to apply for a microgrant up to $10,000.

Eligible applicants will be given a Certificate of Completion containing code that will be required to submit an application.

You can check the status of your application at any time by signing into Lendistry’s Portal using the username, password, and mobile number that you registered. Once signed in, the status will appear on the dashboard. 

Sign into Lendistry’s Portal here: https://cadreamfund.mylendistry.com/landing 

The application process for this program contains multiple stages of validation. You must first meet the Program’s minimum eligibility requirements in order to be considered for a grant. Important Note: Meeting the minimum eligibility requirements does not guarantee a grant award.

Once you are determined to be eligible for this program, your application will then go through final validation to determine if you are approved or declined for funding. As part of this validation process, you will be required to confirm certain information live over the telephone. A member of Lendistry’s team will reach out to you directly to complete this process.

Once your application is fully validated, you will receive an email from Lendistry to notify you if you have been approved or declined for grant funding.

Once your application has been fully validated and approved for grant funding, your grantee agreement and W-9 form will become available to you as a DocuSign document in Lendistry’s Portal. Please sign in and follow the instructions from DocuSign to initial, sign, and date both documents.

Yes. You will need to verify your identity using Persona by uploading a picture of your valid government-issued ID which can be a driver’s license, state ID, or United States passport. Foreign-government issued IDs (i.e., foreign passport, Matricula Consular, etc.) are acceptable as well. You will also need to take a selfie using a device with a front-facing camera.

What is Persona?
Persona is a third-party platform utilized by Lendistry in its fraud prevention and mitigation process. The Persona platform enables Lendistry to verify an individual’s identity and protect against identity spoofing by automatically comparing the individual’s selfie to their ID portrait with a 3-point composite and biometric liveness checks.

An application must be submitted by the majority owner of the business. Applicants will need to certify that the application is being submitted on behalf of the applicant by the majority owner of the applicant as a condition to receiving the grant. Only one business owner can apply.

A nonprofit’s business certification and grantee agreement must be executed by the organization’s executive director or equivalent senior managing officer of the organization. This individual must be the same individual listed on the organization’s Statement of Information filed with the state.

A 2021 tax return is not required to apply. However, where businesses were operational and have reported revenue in 2019 and/or 2020, full and complete/unaltered Tax Returns will be required.

Only one reexamination request is allowed for each application.

You will be noitfied via email if you are ineligible for this grant program. If there was an error in your web application form or in the documentation provided as part of your application, please contact our dedicated Call Center at 888-208-4984, Monday through Friday between the hours of 7:00 am-7:00 pm PST within five (5) days of receiving this email. Please note that this will not guarantee a reversal of your ineligibility. Additional documents and information may be requested to further validate your application.

If Lendistry does not hear from you within this timeframe, your ineligibility will be sustained and your file will be closed.

Only one reexamination request is allowed for each application.

You will be notifiied via email if you are declined for a grant award. If you believe you were declined in error, please contact our dedicated Call Center at 888-208-4984, Monday through Friday between the hours of 7:00 am-7:00 pm PST within five (5) days of receiving this email. Please note that this will not guarantee a reversal of your decline determination. Additional documents and information may be requested to further validate your application.

If Lendistry does not hear from you within this timeframe, your decline determination will remain permanently and your file will be closed.

Only one reexamination request is allowed for each application.

You will be notified via email if you are ineligible for this grant program. If there was an error in your web application form or in the documentation provided as part of your application, please contact our dedicated Call Center at 888-208-4984 (Monday – Friday: 7:00 a.m. – 7:00 p.m. PST) within five (5) business days of receiving this email. Please note that this will not guarantee a reversal of your ineligibility. Additional documents and information may be requested to further validate your application. If Lendistry does not hear from you within this timeframe, your ineligibility will be sustained, and your file will be closed.

If your application is reinstated, Lendistry may request additional documentation or information to validate the information you have provided in your application. If requested, you will be required to upload all documents within 48 hours or two business days of the request to keep your application open, so please be on the lookout for communication from us to prevent delays in the review process. Please note that this will not guarantee a reversal of your ineligibility.

If your ineligibility is confirmed, your file will be closed.

Only one reexamination request is allowed for each application.

You will be notified via email if you are declined for a grant award. If you believe you were declined in error, please contact our dedicated Call Center at (888) 208-4984 (Monday – Friday: 7:00 a.m. – 7:00 p.m. PT) within five (5) business days of receiving this email. Please note that this will not guarantee a reversal of your decline determination. Additional documents and information may be requested to further validate your application. If Lendistry does not hear from you within this timeframe, your decline determination will remain permanently, and your file will be closed.

If your application is reinstated, Lendistry may request additional documentation or information to validate the information you have provided in your application. If requested, you will be required to upload all documents within 48 hours or two business days of the request to keep your application open, so please be on the lookout for communication from us to prevent delays in the review process. Please note that this will not guarantee a reversal of your decline determination.

If your decline determination is confirmed, your file will be closed.