Illinois awards $240k forgivable loan to South Beloit's CloudHaven Dispensary through its Cannabis Social Equity Loan Program.
Illinois' Cannabis Social Equity Loan Program awarded $240k forgivable loans to South Beloit's CloudHaven Dispensary, one of 23 social equity dispensaries receiving funds. The $5.5m program aims to boost economic opportunities in historically disinvested communities, with 4% interest loans forgivable after 18 months if businesses provide eligible expense documentation. This is part of the state's commitment to reducing barriers to entry in the cannabis industry and supporting disinvested communities.
August 14, 2024
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