Cannabis Business Development (CBD) Grant

Open in new Tab Cannabis Business Development (CBD) Grant The NJEDA is currently accepting applications for this program. APPLY HERE INFORMATIONAL WEBINAR NJ Cannabis Business Development (CBD) Grant Webinar WATCH The Cannabis Business Development (CBD) Grant is a pilot equity program offering $75,000 reimbursements to eligible cannabis testing laboratories in New Jersey. This funding supports early-stage companies with compliance and working capital costs, helping build a more equitable and sustainable cannabis industry. AMOUNT Eligible businesses may receive a one-time reimbursement of $75,000. BENEFITS This grant helps offset regulatory compliance and early operational costs, easing financial pressure on budding cannabis businesses. ELIGIBILITY To qualify, applicants must: ______________ Hold an active annual license digital card from the New Jersey Cannabis Regulatory Commission Office of Licensing in Class 1 – Retailer, Class 2 – Manufacturer, Class 5 – Cultivator, Class 7 – Testing Laboratories (Medicinal-only are not eligible) ______________ Submit $75,000 in eligible expenses with supporting documentation *See additional eligibility requirements below APPLICATION PROCESS ELIGIBILITY AWARD SIZE FEES APPLICATION PROCESS The pilot grant program will accept applications online on a rolling grant application basis, where grants will be awarded “first-come, first-served” as completed applications are submitted. The program will be available for three years from the date applications are made available to the public, or until the total funding pool is exhausted (whichever is sooner). As part of the application, the Authority will request information that shall include, but is not limited to: Copy of the NJCRC annual license digital card as per the final recommendation issued by NJCRC Office of Licensing. Conversion letters are not acceptable. Brief Project description and overview All business locations/addresses that are open and operating in and outside of New Jersey. The Authority will capture applicant expenses through an NJEDA-provided template that lists out all eligible amounts of the item or service already paid for in the last 36-months prior to their application submission date. As stated, the Authority will perform a review of applications for completeness in the order that they are received. There will be a $750 non-refundable application fee for all applicants due at time of application. At the sole discretion of the Authority, staff may ask for cures and clarifications of the information included in the application, including but not limited to narrative responses, supporting documentation, and attachments. Applicants will have 10 business days from the date of the staff’s email to provide the requested information and submit any missing and/or incomplete documents. Applicants’ responses to the staff’s requests will be reviewed in the order they are received. Failure to respond to the request within the same 10-business day period will result in the application being deemed administratively withdrawn. If an applicant fails to meet eligibility requirements as described above, the application may be declined from the program. Applicants can withdraw from the application process at any time. Applicants are not able to cure an absent NJCRC annual license as it is required at time of application; there are no exceptions. Please visit our FAQs for more information on the application and approval process. ELIGIBILITY 1. At the time of application, eligible applicants must possess a valid and current annual license digital card as per the final recommendation issued by NJ Cannabis Regulatory Commission (NJCRC) Office of Licensing in one of the following categories: Class 1 – Cultivator Class 2 – Manufacturer Class 5 – Retailer Testing Lab License (Medicinal-Only Labs Ineligible)