Humboldt County cannabis receives equity grant, but no federal funds

Humboldt County cannabis receives equity grant, but no federal funds

The Cannabis Industry in Humboldt County, which plays a significant role in the economy of California, has not yet received any relief from the federal government that is already available to the other businesses. However, a new grant is in order, which will enable the county to provide some assistance to the cannabis workers.

The Governor’s Office of Business and Economic Development will grant an equity funding of $2.4 million to the Humboldt County. The county’s program of Project Trellis to re-invest in the local cannabis industry will receive a significant boost through this source of funding.

The funding raised by the state for the cannabis industry is not related to the pandemic hit by a coronavirus. But, according to the advocates, it will serve as a significant boost for the sector during the period of crisis.

A three-pronged program named as Project Trellis basically involves for the marketing of micro-loans for the cannabis growers, marketing for the local marijuana scene, and equity funding programs, which are planned to provide assistance.

The grant given by the state government stands in contrast to the assistance provided by the central government for the local cannabis industry. Since marijuana remains illegal in the federation, there won’t be any funds received from the Small Business Administration controlled by the federal government.

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