Grant said California’s regulations aren’t set up for the businesses to succeed, either at the state or local level. Her cash and investors have dried up, though L.A. city officials cashed her check for the application fee. She’d also like to see these applicants supported in approaching a landlord with a letter of intent to help them secure leases. Whitney Beatty is a social equity license winner in Los Angeles who has been paying rent on a retail space since Sept. 3, 2019, and still hasn’t sold any cannabis. To qualify as an Equity Applicant you must: apply as a person, not a company; have net assets below established limits for each household. 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The 4-1 vote on April 26 was the latest move in the state’s work to establish a fertile adult-use marketplace and to enact a prosperous social equity platform within that market. The City of Stanton in Orange County, California is currently accepting screening applications for various cannabis uses. Marijuana Business Daily - the most trusted daily news source, exclusively written by professional journalists for the industry.
As commissioner Shaleen Title recently outlined on Twitter: “The social equity program provides technical assistance, training, fee waivers, and more to communities disproportionately harmed by prohibition. 1 hurdle to success for social equity applicants in any state market is a lack of access to capital, and that’s true in California as well.
The Department of Cannabis Regulation, which oversees L.A.’s marijuana businesses, will now restrict all Type 9 (delivery) and Type 10 (retail) application processing to social equity applicants through Jan. 1, 2025. Equity Applicant requirements. “Where are we supposed to come up with the capital we need?” she asked. A recent vote would grant social equity applicants a 24-month window of exclusivity on the new license type. “I believe we’re ready.
But other major markets, including the massive Los Angeles cannabis industry, are still working on their social equity programs.
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