Verification email of 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 verifying the Loan Applicant’s equity status.
Bank statement first page with the name of the party that the loan check should be made payable to (either a Verified CORE Applicant as an individual or to a business of which Verified CORE Applicant(s) owns 51% or more)
Copy of legal identification showing Loan Applicant is at least 21, such as a driver’s license, passport, or California identification
Personal Financial Statement from the Equity Applicant
Prior year tax return from the Equity Applicant
State cannabis license, if already obtained
Business organization documents, such as the Articles of Incorporation
Secretary of State filing for the business entity showing its name and that the entity is in good standing
A list of all parties who own 20% or more of the business with copy of legal identification
Operating agreement or other legal document which lists the owners of the company and their ownership percentages. Note: 51% of owners must be Verified CORE applicants.
Business planning documents including:
a) Business Plan
b) Budget/Use of Proceeds Statement for the requested loan amount
c) Description of how funds will be used
d) Monthly Financial Projections for a 12-month period
For amounts above $25,000, real estate documents including:
a) Confirmation from City of Sacramento Planning Division that zoning of proposed business location allows for the type of cannabis business Applicant intends to open
b) Fully executed business lease agreement, or an addendum to a lease agreement, containing:
1. Term of at least five years duration or a lesser term with automatic extensions equaling at least five years, and
2. Details of the amount and timing of any automatic rent increases, or
3. Ability for tenant to terminate lease with agreed-upon notice, but ability for property owner to terminate only upon cause.
NOTE: If applicant does not have an executed business lease they are only allowed to apply for $25,000.