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Maryland Department of Commerce Announces Applications Open for Cannabis Business Assistance Fund

The Maryland Department of Commerce today announced that applications are now open for the first round of funding available through the Cannabis Business Assistance Fund. The fund, which will offer both grants and loans, will help increase small business and entrepreneur capacity to participate in Maryland’s adult-use cannabis industry. “The Cannabis Business Assistance Fund will help ensure more equitable footing as our medical cannabis license holders transition to recreational marijuana use in Maryland,” said Governor Wes Moore. “The fund promotes equitable economic growth and will empower our small, minority, and women-owned businesses to have a greater stake in this growing industry.” The first round of assistance offered through the fund is the Medical Cannabis License Conversion Fee Assistance grant, which will provide grants to help existing medical-use licensees with the cost of converting their license to an adult-use license. Processor and grower licensees are eligible for a grant of up to $50,000, and dispensary licensees are eligible for a grant of up to $25,000. Priority will be provided to license owners located in areas that were disproportionately impacted by the enforcement of cannabis prohibition. To qualify for a Medical Cannabis License Conversion Fee grant, a license holder must: Be a […]

The post Maryland Department of Commerce Announces Applications Open for Cannabis Business Assistance Fund appeared first on Southern Maryland News Net.

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