HARTFORD, CT – As part of the social equity program in Connecticut certain cannabis businesses can now apply for low-interest loans.
According to Hartford Courant, the loans are paid out from the $50 million fund from the Social Equity Council (SEC). Cannabis businesses that are social equity partners with provisional licenses can apply for the loans now.
Additionally, there will be six social equity lottery applications that are pulled from businesses. Those businesses must have previously failed to meet ownership as well as control criteria that the SEC established.
Any applicant seeking social equity status must be approved by a third-party reviewer site. SEC hired CohnReznick, an auditing and accounting firm, as that third-party reviewer.