Massachusetts Launches “New” Social Equity Grant Program
September 24, 2024
A “new” Cannabis Social Equity Grant Program through the state’s existing Social Equity Trust Fund will make available up to $25 million in grants
A “new” Cannabis Social Equity Grant Program through the state’s existing Social Equity Trust Fund will make available up to $25 million in grants
“With the Cannabis Social Equity Trust Fund, we are rewriting this narrative and providing a secure path for aspiring social equity cannabis entrepreneurs to succeed.”
Some $50,000 grantees have been contacted by the state, formal announcement coming soon
First round of grant funding will total $2.33 million with no single grant exceeding $50,000
“It’s really important to move on this as fast as possible—everyone keeps saying that there’s not enough operating capital out there.”
Grant and loan program for communities harmed by war on drugs has been mired by delays since creation, including supplemental budget debate, but now compromise could move Cannabis Social Equity Trust Fund forward
Group requests a “one-time emergency transfer of $50 million to the Cannabis Social Equity Trust Fund … to compensate for the persistent delays in distributing these funds.”
Will be first meeting since members learned initial trust fund balance will be much less than expected
Free “week-long journey” to feature sessions on “nitty-gritty of getting your business through the city”
