Eligible cannabis businesses must:

• Have 51% of the business owned by a Social Equity Licensee(s) from the Colorado Marijuana Enforcement Division (beginning at the time of application and for 24 months after award disbursement).
• Have been awarded or started an application for a Regulated Business License from the Colorado Marijuana Enforcement Division and the local licensing authority where the business intends to operate.
• Be in Good Standing with the Colorado Secretary of State.
• Provide all relevant documentation to demonstrate eligibility by the closing date of the grant application period.

There are three funding pathways available for grant applicants based on the maturity of their business. Previous recipients of the Foundational or Growth grants are not eligible to reapply to those funding pathways and previous Growth grant recipients are not eligible for another grant from the Cannabis Business Office. Previous recipients of Foundational Plus grants are eligible to reapply for a Foundational Plus award if they meet the criteria listed under that section below since submission of their most recent grant application. 

To prove eligibility, the business must provide suitable documentation such as payroll that shows the stated number of employees, financial records indicating annual revenue, profit and loss statements, sales receipts, state and local licenses, rental agreements, and/or transaction history stating the business' operational (i.e. revenue generating) start date.

If you have questions about which funding pathway is the correct one for your business or about the qualification criteria, please reach out directly to the CBO Program Manager. The eligibility requirements for each funding pathway are as follows:

Foundational:
Foundational applicants must meet two out of three of the following eligibility criteria:

• Have 1 to 5 employees or contractors working a minimum of 30 hours / week
• Have an annual revenue of less than $500,000
• Have been generating revenue for less than 1 year

Foundational Plus: 
Foundational Plus applicants must have received a Foundational grant award previously. In addition, a business must have completed one of the following criteria since submission of their most recent grant application:

• Have added at least 1 employee or contractor working a minimum of 30 hours / week;
• Have begun paying rent on a location for their license type;
• Have received a state and a local license;
• Have purchased a vehicle; or
• Have begun generating revenue

Growth:
Growth applicants must meet two out of three of the following eligibility criteria:

• Have 6 to 15 employees or contractors working a minimum of 30 hours / week
• Have an annual revenue of $500,000 to $3,000,000
• Have been generating revenue for more than 1 year and fewer than 5 years 

Technical Assistance Requirement

Applicants for the Foundational grant must complete the CannaBusiness Foundations Technical Assistance online learning modules to be eligible for a grant. Businesses may substitute this technical assistance requirement if they have previously completed one of the following training programs:

• Marijuana Industry Group Social Equity Mentorship Program
• Marijuana Enforcement Division Accelerator Program
• The Color of Cannabis Business Course

Applicants for a Foundational Plus or Growth grant must complete the CannaBusiness Growth Technical Assistance online learning modules that correspond to the vertical(s) they operate in as well as the supplementary compliance, marketing, sales, HR, and finance modules. This program will not issue a completion certificate, so the Program Manager will confirm completion independently. Businesses may substitute this technical assistance requirement if they have previously completed the BIPOCann mentorship program.

If an applicant does not complete the required technical assistance by the time the grant application is submitted, the applicant will have 21 calendar days to complete the technical assistance or forfeit their grant application submission and potential award.

The maximum grant award amount for Foundational grant recipients is $25,000. The maximum grant award amount for Foundational Plus grant recipients is $20,000. The maximum grant award amount for Growth grant recipients is $50,000. Only one grant will be awarded for the same business, regardless of how many social equity owners are associated with the business.

Applicants that receive a grant award are required to match that award with their own funds at a certain percentage, as designated below. Applicants must have dedicated funds that are equal to the required percentage below. Dedicated money means that cash is held in an account by the applicant, funds are traceable, and the cash is committed to the execution of the project proposal.

Award matching funding is required at the time of Cannabis Business Grant award distribution. For this award match, applicants may not use in-kind contributions, OEDIT funding, or other state funding that they received directly or through a third-party.

• Foundational pathway: businesses can apply for up to $25,000 and must document 10% matching of the amount awarded to be used for the development of the project proposed.
• Foundational Plus pathway: businesses can apply for up to $20,000 and must document 10% of the amount awarded to be used for the development of the project proposed.
• Growth pathway: businesses can apply for up to $50,000 and must document 30% matching of the amount awarded to be used for the development of the project proposed.

The matching amount does not offset the total grant award, but is to be applied to the total award. As an example, a business that receives a $25,000 grant is expected to apply $2,500 to their total project fund, for a total of $27,500 set aside specifically for the project proposed in the grant application.

Applicants should complete the entire application process themselves, as is it a requirement that the submitted names match the names of the owner(s) qualifying as social equity licensees. The application is mobile-friendly, though users may have the best experience when using a computer. Applicants must submit the grant application before the deadline, so we recommend having the completed forms and information ready before you begin.

Steps to Apply

1. Read through this program page to learn if you are eligible for the grant.
2. Once the grant application period opens, complete the pre-application to confirm you meet basic eligibility requirements. If you do not meet the eligibility requirements or need to provide additional documentation, the CBO Program Manager will reach out directly via email.
3. If approved, review our Project Proposal Scoring Rubrics, (Google Doc) and submit an application. The option to submit your rubric answers will be available upon completion of the pre-application through the application platform. 
4. We will receive and review your application. 
5. We will contact you if we need additional information. 
6. We will select the qualified applicants for the committee review process. 
7. Committee will review the qualified projects according to evaluation criteria. 
8. Each committee member will submit their evaluation with scoring results and the dollar amounts to be awarded. 
9. We will review the committee evaluations, confirm the final list of awarded applicants, and notify applicants of whether they will be issued grant funding and dollar amounts.

Completing the Pre-Application

The pre-application asks for basic business information to confirm if eligibility requirements are met before applying to the grant. If a grant application is denied at the pre-application step, the applicant has until the grant application period closes to resubmit your pre-application and full application. If your full application is rejected, you may plan to reapply to a future grant application program.

Required Documentation

• Certificate of Good Standing from the Secretary of State.
• Finding of Suitability Approval Letter. Owner - SE (Social Equity License).
• Regulated Business License from the MED, or the in progress application that will be submitted.
• Marijuana License from the local licensing authority you intend to operate, or the started application that will be submitted.
• Certificate of Completion from the CannaBusiness Foundations TA Program or alternative TA program.
• EIN
• W-9
• Relevant documentation to demonstrate eligibility.

Grant recipients will be selected based on a competitive application process and the total monetary award will be determined after a formal committee review of project proposals. Applications should clearly define the use of funds tied to any grant award. While formal quotes are not required in your application, it is beneficial to include items such as project overviews, estimated costs, and the benefit of utilizing the grant for the proposed project.

Grants are intended to support innovation and job creation for new and small cannabis businesses with a Social Equity License and Regulated Business License. To prepare your project proposal for your application, more information can be found on our scoring rubrics. 

Please note that grant funds eligible for reimbursement must have occurred after the effective date of the purchase order for the grant award. Contact the CBO Program Manager with any questions.

Please note that final details for the application process and scoring rubrics may be added or updated before the grant opens.

View the Project Proposal Scoring Rubrics, (Google Doc) 

Applicants must apply using one of the following five proposal categories for their project proposal:

• Brick and mortar regulatory requirements 
  • Security system install/upgrade
  • HVAC install/upgrade
  • Improved facilities
• Technical and expert requirements 
  • Consulting for technical advancements 
  • Attorneys for operational agreements, contracts, and other legal documents
• Licensing and regulatory fees
  • Insurance
  • Regulatory requirements
  • Licensing fees 
• Operational needs
  • Hiring an additional person to expand operations
  • Buying equipment to increase output
  • Buying an additional vehicle for fleet expansion
• Innovation
  • Innovation geared towards social equity causes
  • Innovative offering or practice 

All grant applicants and awardees must adhere to the CBO’s Code of Conduct, (Google Doc). Behavior that conflicts with the Code of Conduct, (Google Doc) may result in expulsion from the grant application process or the revocation of the grant award.

Awarded businesses must agree to provide documentation of how the funds were spent and any additional documentation required by the Cannabis Business Office. Awarded businesses will send a 6-month and 1-year report about the development of the awarded project.

Grant funds will be dispersed in two tranches. Awarded businesses will receive the first tranche of 75% of the grant upon execution of the purchase agreement for the grant. The second tranche of 25% of the grant will be dispersed upon the CBO’s receipt and approval of documentation demonstrating the awardee has spent 50% of grant funds after the effective date of the grant purchase order agreement. The CBO cannot accept receipts for funds spent prior to the effective date of the grant purchase order agreement.

Please note that awarded operational businesses will be required to provide proof of insurance coverage. Contact the CBO Program Manager with any questions about insurance requirements.

Please note that there may be tax implications to accepting this grant. We recommend that you consult a tax specialist to better inform you of your potential tax liability.