The fourth round of funding for the Maryland Cannabis Business Assistance Fund will soon be available for social equity licensees.
The program, known for increasing small business and entrepreneur participation in Maryland’s adult-use cannabis industry, has awarded more than $45 million to applicants over the past few years. Previous rounds of funding assisted existing medical-use licensees with the cost of converting their license to an adult-use license, as well as supporting social equity licensees who held a stage one pre-approval for a license prior to October 2022.
“Our administration is proud to support this next round of Cannabis Business Assistance grant funding, which builds on our progress of diversifying the cannabis industry in Maryland,” said Governor Wes Moore. Maryland was the first state in the nation to open a cannabis licensing round exclusively for qualifying social equity applicants in all license types.
