Governor announces new cannabis loan funding program

Governor Polis announced a new Cannabis Business Loan Program available through the state's Cannabis Business Office (CBO) within the Colorado Office of Economic Development & International Trade (OEDIT) late last month. The CBO has partnered with mission-based lender NuProject to provide financing that is not otherwise available to cannabis businesses through traditional lenders.

The program is designed to support social equity licensed cannabis businesses in Colorado. According to the state's news release, traditional funding sources designated for small businesses often preclude the cannabis industry, which causes difficulty in accessing capital for cannabis business owners as they grow their businesses. The Cannabis Business Loan Program will provide loans between $50,000 and $150,000 for renovations or expansions, the purchase of equipment, real estate or use as working capital.

Studio K2 Architects are ready to offer their expertise as you consider your space needs. We've designed more than 500 cannabis projects across the country, from retail dispensaries to grow and extraction facilities and everything in-between. Check out our latest work for Police & Thieves dispensary.