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HomePress ReleaseEIN PresswireSocial Equity Capital Launches Cannabis Fund To Support Social Equity Licensees, Seeks...

Social Equity Capital Launches Cannabis Fund To Support Social Equity Licensees, Seeks Private Lenders


Francis Kanneh

I created the Social Equity Capital Fund to each advance an rising authorized trade whereas additionally righting the wrongs of earlier, discriminatory hashish coverage,”

— Francis Kanneh

LOS ANGELES, CALIFORNIA, USA, October 23, 2023 /EINPresswire.com/ — The Social Equity Capital Fund (SECF) posted a request for proposal (RFP) searching for capital companions to launch the Cannabis Mortgage Fund, which can present low-cost financing to social fairness licensees countrywide.

SECF is focusing on a complete fund dimension of $100 million with the assistance of personal lenders. The fund will provide much-needed capital to hashish companies owned and operated by minorities who’ve been awarded licenses to function in cities all through the nation. The final word fund dimension will rely upon non-public lenders’ responses to the RFP.

“I created the Social Equity Capital Fund to each advance an rising authorized trade whereas additionally righting the wrongs of earlier, discriminatory hashish coverage,” SECF President and CEO Francis Kanneh says.

“Minority hashish companies are pressured to make use of high-interest lenders or forgo capital enhancements, leaving low-income entrepreneurs to pay exorbitant curiosity. As states approve marijuana decriminalization laws, communities of colour are continuously left behind within the booming and really profitable hashish enterprise, with revenues anticipated to achieve $50 billion by 2026. Social fairness packages, however, might help restore the hurt carried out to those communities by years of discriminatory marijuana enforcement practices. These fairness packages, particularly, might help people from disproportionately affected communities be a part of and maintain corporations within the authorized marijuana trade by providing help for loans, grants, enterprise trainings, and different assets.”

The RFP opened on October twenty first.

Francis Kanneh
Social Equity Capital
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