To be eligible for a CORE Capital Loan, the applicant must qualify under one of the five classifications below whereby Classifications 1 and 2 are for individuals, and Classifications 3, 4 and 5 are for businesses. In addition the applicant must submit a verification email of its CORE status from the Sacramento Asian-Pacific Chamber of Commerce (SACC) or the Greater Sacramento Urban League (GSUL) or other entity designated by the City of Sacramento to perform CORE eligibility verifications. CORE classifications include:
Classification 1: Lives or have lived in a low-income household in Sacramento AND:Have been arrested in Sacramento for cannabis–related crime between 1980-2011, OR An immediate family member who meets the description above
Classification 2: Lived in a low-income household in the following zip codes for 5 consecutive years between 1980 and 2011: 95811, 95815, 95817, 95820, 95823, 95824, 95826, 95828, 95818, 95838 and 95832
Classification 3: Businesses with no less than 51% ownership by Classifications 1& 2 individuals
Classification 4: CORE Program Incubator. CORE Incubator means a cannabis business which as a condition for receiving priority processing, either:
1. Hosts a participant; 30% of its workforce are Classification 1 or 2 eligible participants, measured by hours worked; and contracts no less than 51% of its cannabis products or services and ancillary business support with eligible participants; or
2. Is a shared manufacturing cannabis business and donates at least 10% of its hours of operation to allow participant(s) to utilize 100% of its business’ floor space and equipment; or
3. Is a cannabis business that sells, gives or otherwise transfers no less than a 33% equity share in the CORE Incubator’s cannabis business to eligible CORE participants or participants; 30% of its workforce be Classification 1 or 2 eligible; and contracts no less than 30% of its cannabis and ancillary business with Classification 1 or 2 eligible participants.
CORE Incubators shall host, donate to, employ, contract with, sell, give, or transfer to participants that reside within the city district in which the incubator sits. If no such participants exist, incubators shall utilize participants from other applicable areas.
Classification 5: Cannabis Social Enterprise with no less than 51% ownership by Classifications 1& 2 individuals.