Loan applicants must undergo a due diligence process and may apply for the funding levels in the Tiers listed below. Tiers are designed to help loan applicants build sustainable businesses, at every stage of business development. Click here to view loan requirements by tier.

Tier 1 – Establish the Business
Up to $5,000

Tier 2 – Get Compliant
Up to an additional $10,000; cumulative $15,000

Tier 3 – Open the Business
Up to an additional $15,000; cumulative $30,000

Tier 4 – Start Operations
Up to an additional $20,000; cumulative $50,000

Tier 5 – Grow the Business   Amount – Up to an additional $50,000; cumulative $100,000. Tier 5 is only available to businesses that are either 100% owned by equity qualified individuals or businesses that match the City’s loan amount with an equal-sized loan from a third-party.  In addition the applicant must have been previously issued a City of Oakland Equity Loan, is not delinquent & has made on-time loan payments for the 3 previous consecutive months.

Tier 6Expand the Business.  Amount – Up to an additional $25,000; cumulative $125,000.  Tier 6 is only available to businesses that are either 100% owned by equity qualified individuals or businesses that match the City’s loan amount with an equal-sized loan from a third-party. In addition the applicant must have been previously issued a City of Oakland Equity Loan of $100,000, is not delinquent & has made on-time loan payments for the 3 previous consecutive months.

 To qualify for a loan, applicants must:

  1. Be an Equity Qualified Individual. The business in which the Equity Qualified Individual owns 50% or more may also be a loan applicant
  2. Have submitted a cannabis permit application
  3. Meet the Income Verification Criteria at the time that they apply for a loan
  4. Submitted the required prerequisite and assessment materials
  5. Meet the requirements associated with that Tier (see chart below)

Applicants can apply for the aggregate loan amount associated with all Tiers for which they qualify.  For example, if an applicant meets the requirements for Tiers 1, 2 and 3, they may apply for $30,000 at once. However, first-time Applicants may only apply for a maximum amount of $50,000. Tier 6 is only available to Applicants that have been previously issued a  $100,000 City of Oakland equity loan. Applicants can also apply for less than the full amount of a given tier for which they qualify.

Follow-on Loan Qualifications:  Applicants may also apply for the next loan Tier (Follow-on Loan) without fully re-paying their prior loan(s), as long as:

  1. They meet the requirements for the next Tier or Tiers for which they are applying
  2. Provide receipts showing they spent 70% of their previous loan on eligible expenses,
  3. Are not delinquent and have made on-time loan payments for the three previous consecutive months.
  4. Are compliant with required licenses, permits and taxes
  5. Are active in the City of Oakland Equity Entrepreneurship Program known as “GRASS” – Gaining Resources to Achieve Sustainable Success (GRASS program description found at ElevateImpactOakland.com)

If a borrower is approved for a Follow-on Loan, their original loan agreement will be amended such that the borrower does not have more than one Equity Loan outstanding at a time.