The Cannabis Business Pilot Grant is a funding opportunity for social equity cannabis businesses who have been awarded, or are actively pursuing, a regulated business license from the Marijuana Enforcement Division.
Donor Name: Colorado Office of Economic Development and International Trade (OEDIT)
State: Colorado
County: All Counties
Type of Grant: Grant
Deadline (mm/dd/yyyy): 04/11/2022
Grant Size: $50,000
Details:
This program was developed to support cannabis entrepreneurs through access to capital to promote social equity, innovation, and job creation across the industry. Eligible businesses are divided into 2 categories based on their needs: foundational and growth.
Funding Information
The maximum grant award amount for Foundational grant recipients is $25,000. The maximum grant award amount for Growth grant recipients is $50,000. Only one grant will be awarded for the same business, regardless of how many social equity owners are associated with the business.
Eligibility Criteria
Eligible cannabis businesses must:
- have 51% of the business owned by a Social Equity License from the Colorado Marijuana Enforcement Division (beginning at the time of application and for 24 months after award disbursement)
- have been awarded, or are actively pursuing, a Regulated Business License from the Colorado Marijuana
- Enforcement Division
- be in Good Standing with the Colorado Secretary of State
To be eligible for either the foundational or growth category, businesses must meet at least 2 of the 3 eligibility requirements for that category.
- Foundational:
- have 1 to 5 employees
- have an annual revenue of less than $500,000
- have been in operation for less than 1 year
- Growth:
- have 6 to 15 employees
- have an annual revenue of $500,000 to $3,000,000
- have been in operation for more than 1 year
For more information, visit OEDIT.
