Daniel E. Cohen Authors Cannabis Blog, “NJ LEAF Coming Soon – New State Funding for Cannabis Businesses”
Daniel E. Cohen, associate in the firm’s Litigation, Appellate Advocacy, Corporate & Business Law and Cannabis & Hemp Law practices, recently authored a cannabis blog titled, “NJ LEAF Coming Soon – New State Funding for Cannabis Businesses.” The blog discusses how New Jersey is launching NJ LEAF (Lending for Equity, Access, and Financing Program), a fixed-interest loan program to help small, for-profit recreational cannabis businesses obtain financing for real estate, equipment, machinery, and working capital. Cohen highlights the qualifications businesses must meet to obtain the loans and speculates on the future possibilities of the NJ LEAF program.
“When this program launches, it may be a key part of a small cannabis business’ plan for getting through the tough early stages of operations. Loan applications will be reviewed on a first-come, first-served basis for three years from the opening of applications or until the State’s funds are exhausted, whichever comes sooner. Cannabis businesses seeking to obtain financing should keep an eye out for the launch date so they can apply promptly,” writes Cohen.
“A knowledgeable cannabis attorney can help navigate the State of New Jersey’s application systems and obtain financing if it is available. It is important to discuss your business’ financing needs with experienced counsel to identify and secure the best options available,” the blog concludes.
To read the full blog, click here.
