CANNABIS EQUITY LOAN AND GRANT FUNDING TIERS
| Tier/Amount
Description
|
Loan and Grant Application Requirements | Potential Use of Proceeds
(not limited to these) |
| Tier 1 / $5,000
“Establish the Business” |
Completed Prerequisite Documentation
Completed Loan Assessment Documentation 1A. Lease, sublease or incubator agreement 1B. Personal Financial Statement |
Legal fees
Branding (name/logo) Consultants Staff and contractors Loan payment reserve |
| Tier 2 /An Additional $10,000
“Get Compliant” |
Completed requirement for Tier 1
2A. Proof of trademark search and business name usability 2B. Organization documents for the business entity 2C. Operating agreement signed by the business partners 2D. Fictitious business name statement (or evidence of application) 2E. City of Oakland business Tax Certificate (or evidence of application) 2F. State of California seller’s permit (or evidence of application, if applicable) 2G. City of Oakland Certificate of Occupancy Number (not the actual certificate) and field inspection date |
Items in Tier 1
Insurance Bookkeeping system Accounting fees State license fees Loan payment reserve |
| Tier 3 / An Additional $15,000
“Open the Business” |
Completed requirements for Tier 1 and 2
3A. Temporary, provisional or annual state cannabis license 3B. In compliance with building and fire prevention bureau milestones as outlined in the cannabis operator guideline. 3C. Insurance with policy endorsement showing the City of Oakland, its council members, directors, officers, agents, employees and volunteers. listed as an additional insured (general liability and auto insurance are required; worker’s compensation is required if the business has employees) 3D. Evidence of compliance with Oakland’s Minimum Wage Ordinance, such as hourly payroll report or employee manual 3E. If Loan Applicant has employees, upload paycheck stub and the required quarterly payroll reports that demonstrates the company is in compliance with Employment Development Department regulations (i.e. payroll tax, unemployment insurance, state disability insurance, etc.), 3F. Evidence of a bookkeeping system, such as check/transaction register with information and/or financial report from QuickBooks, Mint, Zero, Sage (or equivalent accounting system), or spreadsheet from Google Docs or Excel |
Items in Tiers 1 & 2
Bring space into compliance Equipment & furniture Architect Structural engineer Loan payment reserve |
| Tier 4 / An Additional $25,000
“Start Operations” |
Completed requirements for Tier 1, 2 and 3 and EITHER 4A. Copy of completed and signed inspection card; NOTE: for cultivators and manufacturers at multi-tenant cannabis properties, EBMUD signature is not required, but all other signatures are required on the inspection card; OR 4B. Copy of invoices (including Scope of Work) to cover costs associated with bringing the loan applicant’s cannabis facility into compliance with building and fire code requirements in order to obtain a completed inspection card |
Items in Tiers 1, 2 & 3
Inventory Packaging Marketing and Advertising Event permits IT and Website Acquiring more space Maintenance/upgrades Completing construction Loan payment reserve |
| Tier 5/ An Additional $60,000
“Grow the Business”
|
Completed requirements for Tier 1, 2, 3 and 4
|
Items in Tiers 1, 2, 3 & 4 Loan payment reserve |
| Tier 6/ An Additional $35,000
“Expand the Business”
|
Completed requirements for Tier 1, 2, 3, 4 and 5
|
Items in Tiers 1, 2, 3, 4 & 5 Loan payment reserve |