Applications for Round 3 of Illinois' Cannabis Social Equity Loan Program opened today. This round of funding includes $40 million, which will be available through Direct Forgivable Loans fully financed by the State.
This round of funding includes $40 million, which will be available through Direct Forgivable Loans (DFL) fully financed by the State, according to Governor JB Pritzker and the Illinois Department of Commerce and Economic Opportunity (DCEO) . Loans will be available to qualified, licensed social equity craft growers, infusers, transporters, and adult-use dispensing organizations.
"Illinois is proud to have the most diverse cannabis industry in the nation as the state continues to support the industry," said Governor JB Pritzker. "We've made historic progress fostering social equity in the marketplace and ensuring investment in communities across the state over the past five years. This new round of funding is another meaningful step toward uplifting social equity businesses in the cannabis industry."
"Under the Pritzker-Stratton administration, Illinois has been on the frontlines in helping shape and build a cannabis industry that is rooted in equity, opportunity, and reinvestment," said Lt. Governor Juliana Stratton. "This next round of funding will continue to strengthen and support this rapidly emerging sector by making sure its growth benefits every corner of this state—providing jobs and growing businesses in communities that have long been overlooked and underserved."
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