Cannabis Social Equity Trust Fund delivers its largest payout yet—to 194 entrepreneurs fighting to bridge the industry’s financing gap
At Talking Joints Memo, we write and make a lot of videos about how ratfucked the Mass cannabis industry is in many regards. So it’s only fair to recognize when there are efforts made to right the ship.
One major disappointment for a lot of stakeholders on all sides has been the overall results of various social equity-geared programs. Though one could point to several standout examples of entrepreneurs prevailing through the gauntlet, significant impediments remain, chiefly around financing.
Though many of the foundational Mass cannabis regulations were shortsighted, the framers did see reason to help fill the chasm between hope and the reality of actually opening a business. And after more than half-a-decade of bureaucratic delays, the state’s resulting Cannabis Social Equity Trust Fund, which is tethered to cannabis tax revenue, started disbursing grants in 2024.
After an initial $2.3 million round going “to support eligible cannabis social equity license holders with urgent financial needs, followed by an additional $26 million awarded in Fiscal Year 2025 through the Cannabis Social Equity Grant Program,” this year the administering Executive Office of Economic Development delivered its fattest bag yet, announcing on Monday “194 grants totaling $28.8 million.”
“These investments support small businesses at critical stages of growth while helping communities across the Commonwealth benefit from a rapidly evolving industry,” Economic Development Secretary Eric Paley said in a statement.
Cannabis Social Equity Advisory Board Chair Keisha Brice added: “As the industry continues to evolve, we look forward to continuing the work and staying true to our commitment in helping minority operators and entrepreneurs.”
EOED received 223 applications requesting more than $32 million in grant funding. You can see a list of the recipients with grant amounts here or by clicking the image above.
“The Social Equity Grant Program represents our continued commitment to building a cannabis industry in Massachusetts that is equitable, inclusive, and reflective of the communities most harmed by the war on drugs,” State Sen. Adam Gómez, co-chair of the Joint Committee on Cannabis Policy, said in a statement.
The senator added: “With these grants, we are not only supporting entrepreneurs at every stage of the licensing process—we are investing in economic opportunity, generational wealth creation, and fair participation in this growing industry. I am proud to see the Commonwealth take meaningful action to ensure that equity is not just a promise, but a practice.”
