Bay Area
Dream Fund: Entrepreneurs Can Apply for $10,000 Grants Through $35M State Program
Although a number of reports suggest that the outlook has begun to be more positive as the U.S. economy continues to bounce back defying the odds, and many Black businessowners have also become more optimistic, access to credit and technical support remain a challenge for many who had to dip into their own finances to keep their lights on.
By Tanu Henry, California Black Media
Since 2017, there has been a 9.8% increase of new small businesses — firms with less than 500 employees — in the United States. Over the past two years alone, over 10 million applications were submitted to start new small businesses across the country, according to the Small Business Administration.
That growth trend is true for California, too, where there are about 4.1 million small businesses, the most in the country. Those companies make up 99.8% of all business in California and employ about 7.2 million people.
But for Black-owned and other minority owned small businesses across the country, there was a steep decline in numbers, almost 41%, due to the pandemic, a Census Population Survey found in 2020. During that same time, nearly 44% of minority-owned small businesses were at risk of shutting down, a Small Business Majority report found.
Although a number of reports suggest that the outlook has begun to be more positive as the U.S. economy continues to bounce back defying the odds, and many Black businessowners have also become more optimistic, access to credit and technical support remain a challenge for many who had to dip into their own finances to keep their lights on.
Recognizing the outsized contribution small businesses make to the health of the California economy and the hit many of the smallest of small business have taken during the pandemic, the California Office of the Small Business Advocate (CalOSBA) has been making grants of up to $25,000 to small business in the state.
In its latest round of funding called the Dream Fund, which is now accepting applications on a rolling basis, CalOSBA has partnered with Lendistry, a Los Angeles-based, minority-led small business and commercial real estate lender to administer the $35 million grant portion of its program. The fund provides $10,000 to each small business that qualifies.
To become eligible, California-based small business owners will have to complete training at one of the centers run by the state’s Technical Assistance Expansion Program (TAEP) and receive a certificate.
“For the millions of Californians that have dreams of owning their own business, this grant coupled with one-on-one counseling and business expertise from hundreds of counselors at our eighty-seven Technical Assistance Centers, has the power to jumpstart their dreams,” says Tara Lynn Gray, director of CalOSBA.
Jay King, president and CEO of the Sacramento-based California Black Chamber of Commerce, says he applauds Gov. Gavin Newsom for understanding the historic systemic challenges minority businesses face and for “doing something about it.”
But giving Black businesses grants are not a “cure-all,” he says.
“It is like putting a Band-Aid on a bullet wound if we don’t do more to really fix the problems small businesses face,” King explains. “Ninety-six percent of Black businesses are mini- or micro- that means they make less than $100,000 or less than $35,000 a year, respectively,” King continued. “Only 4% of our businesses earn more than $100,000 annually. We have to put more resources and technical support around these businesses.”
King says informing Black business owners about opportunities like the Dream Fund and making sure they know how to apply for or access the funding is critical to making sure the people who need the help gets it.
“You have to get down into our communities,” he said. “You have to reach people through groups that are plugged into our communities to get the word out. We do not hear about these kinds of programs enough. We definitely don’t benefit from them enough.”
Everett K. Sands, the CEO of Lendistry, says he is excited to help California’s new businesses access the capital they need to “begin on their journeys.
“Over the past two years, almost 10 million new businesses have been created in the U.S.,” he says. “With record numbers of new small businesses entering the marketplace, many of which are owned by women and minorities, programs like California Dream Fund pave the way for a more robust and equitable economy as these new businesses make the leap from employing just their founders to employing their communities.”
Activism
Oakland Post: Week of March 13 – 19, 2024
The printed Weekly Edition of the Oakland Post: Week of March 13 – 19, 2024
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Activism
Oakland Post: Week of March 6 – 12, 2024
The printed Weekly Edition of the Oakland Post: Week of March 6 – 12, 2024
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Activism
Who are the Alameda County District 4 Supervisor Candidates’ Top Campaign Contributors?
Below, we’ve listed each candidate’s 10 highest campaign contributors. For Miley, two of his top campaign donors also bought their own advertisements to support him and/or oppose Esteen through independent expenditures. Such expenditures, though separate from campaign donations, are also public record, and we listed them. Additionally, the National Organization of Realtors has spent about $70,500 on their own independent expenditures to support Miley.
By Zack Haber
Nate Miley, who has served on Alameda County’s Board of Supervisors since 2000, is running for reelection to the District 4 supervisor seat.
Jennifer Esteen, a nurse and activist, is seeking to unseat him and become one of the five members of the powerful board that sets the county’s budget, governs its unincorporated areas, and oversees the sheriff, Alameda Health System, and mental health system.
District 4 includes most of East Oakland’s hills and flatlands beyond Fruitvale, part of Pleasanton and unincorporated areas south of San Leandro like Ashland and Castro Valley.
Voting is open and will remain open until March 5.
In California, campaign donations of $100 or more are public record. The records show that Miley has received about $550,000 in total campaign donations since he won the previous District 4 election in March 2020. Esteen has raised about $255,000 in total campaign donations since she started collecting them last July. All figures are accurate through Feb. 20.
While Miley has raised more money, Esteen has received donations from more sources. Miley received donations of $100 or more from 439 different sources. Esteen received such donations from 507 different sources.
Below, we’ve listed each candidate’s 10 highest campaign contributors. For Miley, two of his top campaign donors also bought their own advertisements to support him and/or oppose Esteen through independent expenditures. Such expenditures, though separate from campaign donations, are also public record, and we listed them. Additionally, the National Organization of Realtors has spent about $70,500 on their own independent expenditures to support Miley.
Nate Miley’s top campaign contributors:
The California Apartment Association, a trade group representing landlords and investors in California’s rental housing business, has spent about $129,500 supporting Miley’s election bid through about $59,500 in ads against Esteen, $55,000 in ads supporting Miley, and $15,000 in campaign donations.
The independent expenditure committee Preserve Agriculture in Alameda County has spent about $46,025 supporting Miley through about $27,200 in their own ads, and $18,825 in donations to his campaign. Preserve Agriculture has supported reelection efforts for former Alameda County DA Nancy O’Malley, and Sheriff Greg Ahern, a republican. It’s received funding from Chevron, PG&E, and a the California Apartment Association.
Organizations associated with the Laborers’ International Union of North America, or LiUNA, have donated about $35,000 in total. Construction and General Laborers Local 304, a local chapter of the union representing which represents over 4,000 workers, donated $20,000.
Laborers Pacific Southwest Regional Organizing Coalition, which represents 70,000 LiUNA members in Arizona, California, Hawaii and New Mexico, donated $15,000.
William ‘Bill’ Crotinger and the East Oakland-based company Argent Materials have donated $26,000. Crotinger is the president and founder of Argent, a concrete and asphalt recycling yard. Argent’s website says it is an eco-friendly company that diverts materials from landfills. In 2018, Argent paid the EPA $27,000 under a settlement for committing Clean Water Act violations.
Michael Morgan of Hayward, owner of We Are Hemp, a marijuana dispensary in Ashland, has donated $21,500.
Alameda County District 1 Supervisor David Haubert has donated $21,250 from his 2024 reelection campaign. He’s running unopposed for the District 1 seat.
SEIU 1021, which represents over 60,000 workers in local governments, non-profit agencies, healthcare programs, and schools in Northern California, has donated $20,000.
UA Local 342, which represents around 4,000 pipe trades industry workers in Contra Costa and Alameda counties, donated $20,000.
The union representing the county’s deputy sheriffs, Deputy Sheriff’s Association of Alameda County, has donated $17,000.
Becton Healthcare Resources and its managers have donated $14,625. Becton’s mission statement says it provides “behavioral health management services to organizations and groups that serve the serious and persistent mentally ill population.”
Jennifer Esteen’s top campaign contributors:
Mary Quinn Delaney of Piedmont, founder of Akonadi Foundation, has donated $20,000. Akonadi Foundation gives grants to nonprofit organizations, especially focusing on racial justice organizing,
Bridget Galli of Castro Valley has donated $7,000. Galli is a yoga instructor and a co-owner of Castro Valley Yoga.
Rachel Gelman of Oakland has donated $5,000. Gelman is an activist who has vowed to redistribute her inherited wealth to working class, Indigenous and Black communities.
California Worker Families Party has donated $5,000. The organization’s website describes itself as a “grassroots party for the multiracial working class.”
David Stern of Albany has donated $5,000. Stern is a retired UC Berkeley Professor of Education.
Oakland Rising Committee—a collaborative of racial, economic, and environmental justice organizations—has donated about $3,050.
Fredeke Von Bothmer-Goodyear, an unemployed resident of San Francisco, has donated $2,600.
Robert Britton of Castro Valley has donated $2,500. Britton is retired and worked in the labor movement for decades.
Progressive Era PAC has donated about $2,400. Its mission statement says it “exists to elect governing majorities of leaders in California committed to building a progressive era for people of color.”
East Bay Stonewall Democrats Club has donated $2,250. The club was founded in 1982 to give voice to the East Bay LGBTQIA+ communities.
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