Several Central Illinois marijuana dispensaries are receiving significant support from the state of Illinois as part of a broader effort to promote social equity in the cannabis industry. The state has awarded $240,000 in forgivable loans to 23 social equity dispensaries, as part of a $5.5 million initiative.
These social equity businesses are defined as having at least 50% minority ownership or being located in areas designated as “disadvantaged.”
For further details on the grant program and its impact, visit WCIA.
Lieutenant Governor Juliana Stratton emphasized the broader impact of these investments, stating that the Cannabis Social Equity Loan Program is not only strengthening businesses but also fostering job creation and economic growth. The program aims to break down barriers and promote inclusivity within the cannabis sector.
Among the recipients is Danville’s Seven Point dispensary, which plans to use the funds for building improvements. Other dispensaries benefiting from the grants include Mystic Green in Decatur and InLabs in Springfield.
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These grants represent a tangible commitment to addressing historic inequities within the cannabis industry, ensuring that marginalized communities have a stake in its growth.
