Portland Cannabis FUND
Portland Cannabis Loan Program for
Social Equity Licensees
Portland Cannabis Loan Program for Social Equity Licensees
NuProject launched mission-based funding in 2018 to support the growth of diverse-owned, Portland, Oregon cannabis businesses. NuProject provides funding and financial technical assistance to licensed cannabis or hemp businesses headquartered in or making sales in Portland, OR.
City of Portland cannabis taxes fund this support as directed by a ballot initiative to invest cannabis tax revenue into the communities disproportionately harmed in Oregon by cannabis criminalization – Black, Indigenous and Latina/o/x. Our work supporting historically-excluded cannabis founders revealed the primary equity gap for diverse-owned cannabis businesses is startup and working capital, particularly non-dilutive funding. NuProject launched a zero- and low-interest loan program for cannabis businesses 51% owned by founders from historically-excluded groups.

Here's what you need to know

Loan Details
- Loans available ranging from $15,000 to $100,000.
- 0% interest for loans under $25,000. 6% interest for loans $25,000+.
- Loan terms will range depending on business’ projected ability to repay.
- Loan process includes providing financial documents, including balance sheet, profit & loss statement, prior year tax returns,(NuProject capital counselors can help you create required documents.)

Qualifications
Apply for this loan if your business is:
- THC or CBD business with either OLCC marijuana license or ODA hemp license. OR your business is an ancillary (or non-plant-touching) business that serves the cannabis industry with a product or service.
- 51% owned by racial or ethnic minorities or women.
- Revenue-generating business with a minimum of 18-months of sales (sales do not need to be consecutive).
- Able to show how the business will use loan funds to directly increase revenue within 12 months of funding.
- What we don’t check is your credit history or require a cash match or down payment.

How to apply

CAPITAL COUNSELORS & NETWORK SUPPORT
Need help completing a profit and loss statement? Wondering if a loan is smart for your business?
Meet with us.
Want to ask a quick question? Email loans@nuproject.org

Faith Anderson
VP of Finance & Operations
Faith has more than 20 years of finance and accounting experience with non-cannabis and cannabis, companies. Her cannabis finance experience includes accounting lead for a handful of companies and five years as head of finance for a vertically-integrated cannabis company in Maryland. Faith knows cannabis finance inside and out and has a passion for helping new business owners understand their financials. Faith believes all cannabis businesses should protect themselves by having rigorous and compliant accounting. She also wants to help our clients heal from their money trauma. Schedule a meeting with Faith.
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