The Minnesota Office of Cannabis Management (OCM) on Tuesday announced a $2 million grant program for farmers and organizations that will help farmers navigate the cannabis industry through training and education, technical support, and loans.
OCM Interim Director Eric Taubel said the CanGrow farmer loan grants will support farmers who want to enter or expand their presence in the cannabis space by offering “the tools to succeed” in the industry.
CanGrow grants are expected to range in funding from $10,000 to $50,000 for technical assistance and educational projects, from $200,000 to $500,000 for organizations offering loan financing, and from $2,500 to $50,000 for individual farmers, or up to $150,000 for farm projects with matching funds. Nonprofits, educational institutes, local governments, private businesses, local community groups, and other partnerships are all eligible for the CanGrow farmer training grants, but only nonprofit groups are eligible for the farmer loan grants.
“Providing farmers the financial opportunity to take part in Minnesota’s cannabis market and make strategic investments is the best way to ensure they can build equity.” — Taubel, in a press release
“We recognize that financing and resources are critical for Minnesota farmers,” Jess Jackson, OCM’s director of social equity, said in a statement. “CanGrow helps to increase access to ownership by ensuring underserved farmers get a fair opportunity at entering the cannabis market.”
Get daily cannabis business news updates. Subscribe
Ganjapreneur is made possible by our partners:
