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SITE NAVIGATION

CORE Loans and Grants

CORE Capital Loan Program

CORE Capital Loan Application Process

CORE Grants

CORE Loans and Grants

CORE Capital Loan Program

Effective June 1, 2022, in order to apply for a loan you must have a leased or owned business location

The state grant funds have been expended and loans will now be funded by the revolving loan fund, which is dependent upon loan repayment to have funds for future loans. We anticipate funds for one to two loans per month. The loan fund balance can be found under CCL data.

Summary

CORE Capital, is a 6-year interest-free loan program for cannabis businesses made available through grant funds from the Governor's Office of Business and Economic Development (Go-Biz) Cannabis Equity Grants Program for Local Jurisdictions. Loan repayment funds will be allocated back to the loan program for continuous loan opportunities for CORE participants.

Loan amount

Individuals who meet CORE classifications 1 and 2, and businesses who meet classification 3 and 5 can qualify for an initial and follow-on loans in increments up to $50,000 in accordance with the following:

Initial Loan:

The largest amount available for an initial, or first-time, loan is $50,000 if an applicant has a signed business lease for a location/premise or owns a location. A Verified CORE individual can apply for $50,000 per person per leased or owned location.

Follow-on Loan:

Loan Applicants may apply for additional loans (“Follow-on Loans”) in increments of up to $50,000, without fully re-paying their prior loan(s), as long as they:

Provide receipts showing they have spent 70% of their previous loan on eligible expenses. Receipts must be dated after the effective date of the loan and correlate to expenses submitted on their loan budget;
Must be current on loan repayment at time of application;
Have a signed business lease or owned location;
Are compliant with required licenses, permits, and taxes;
Maintain verified CORE status
Do not have more than six (6) active loan

Questions may be directed to CORE Capital Loan Program

CORE Capital Dashboard

Loan Repayment Status

CORE Capital Loan Application Process

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CORE Capital Loan Program

Summary

Loan amount

Initial Loan:

Follow-on Loan:

CCL Data

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