Qualifications for eligible businesses include holding a conditional New Jersey recreational cannabis license, business formation after March 9, 2020, and employing 50 or fewer employees. Applicants are limited to one application per federal EIN. Applicants operating from multiple locations under a single EIN are limited to one application under the sole EIN but may pool project costs from multiple locations into a single application.
Requirements for Seed Equity Grant
- Requires a conditional license.
- Targeted toward entities with a conditional license and want to obtain an annual license but need more assistance to progress to their actual application.
- 48 awards
- EDA sponsored Technical Assistance Training enrollment is mandatory.
- Open to Social Equity applicants; 5% set aside for businesses located in Impact Zones.