PORTLAND CANNABIS LOAN FUND FOR DIVERSE-OWNED BUSINESSES
Application Deadline April 30, 2023 at 11:59pm Pacific time.
NuProject launched mission-based loan funding in 2020 to support the growth of diverse-owned, Portland-based cannabis businesses.
The loans are funded by City of Portland cannabis taxes as directed by a voter-passed ballot amendment to invest cannabis tax revenue into the communities disproportionately harmed in Oregon by cannabis criminalization – Black, Indigenous and Latina/o/x.
Loan terms are flexible and interest rates are below prime. We don’t check credit.
Have questions about a loan? Not sure if it’s right for your business? Our capital counselors are ready to coach you through the process
- Loans are available to Oregon-licensed (CBD & THC) and ancillary businesses that are 51% or more diverse-owned.
- Businesses must have a minimum of 18 months revenue and must have filed 2021 and/or 2022 tax return.
- Loans are available ranging from $20,000 to $75,000.
- Interest rate is below prime at 6% for loans $25,000 and up. 0% interest for loans under $25,000
- Loan terms will range from 36 months to longer depending on the business’ projected ability to repay.
- Loan process includes providing financial documents, including balance sheet, profit and loss statement, and 2021 and/or 2022 tax returns, and projected financials. (We can support you in creating required documents.)
- We expect to fund 2 to 3 loans in June 2023.