What is the Equity Grant Program?
The City of Oakland’s Cannabis Equity Grant Program utilizes funding from Governor’s Office of Business and Economic Development (“Go-Biz”) to provide grants to Oakland’s cannabis equity entrepreneurs. Click here for detailed Grant Program Overview. To receive grant funds, Equity Applicants must complete a grant application and undergo a business verification process. Grant amounts will be disbursed in tiers that are designed to help Equity Applicants build successful sustainable businesses. If an Equity Applicant meets the requirements of all five grant tiers, they will be eligible to receive a maximum grant amount of $90,000, as summarized below:
|Tier 1||Establish the Business||$5,000||$5,000|
|Tier 2||Become Compliant||$10,000||$15,000|
|Tier 3||Open the Business||$15,000||$30,000|
|Tier 4||Start Operations||$20,000||$50,000|
|Tier 5||Expand the Business||$40,000||$90,000|
The above tiers are consistent with the Cannabis Equity Loan tiers and are also structured to help Equity Applicants build successful sustainable businesses. In addition, Tiers 4 & 5 are only available to businesses that are 100% owned by equity qualified individuals or businesses that match the City’s grant amount with an equal-sized loan, investment or grant from a third-party. Applicants must have already received grants totaling $50,000 before applying for Tier 5.