The state is offering money to would-be cannabis operators to get their businesses up and running. New Jersey is creating a Cannabis Equity Grant Program and committing $10 million in funding. A lack of access to capital is an ongoing problem for many small businesses, and minority businesses in particular. These state grants can be used to cover start-up costs, initial expenses and training.
The program is designed to help communities of color, according to the Murphy administration. About 60% of the grant money will go to qualifying social equity applicants, including those who live in economically disadvantaged communities or who have prior cannabis convictions.
