New Jersey expands support for small cannabis businesses with new $15 million loan fund
To be eligible, businesses must be New Jersey-based and hold a valid recreational annual license card for either cannabis cultivator or cannabis manufacturer
New Jersey is doubling down on its commitment to an equitable cannabis industry with the launch of a new $15 million low-cost lending program designed to help small businesses scale their operations.
The New Jersey Lending for Equity, Access, and Financing (NJ LEAF) Program will officially begin accepting applications on Monday, April 20, 2026, at 10:00 a.m.
Managed by the New Jersey Economic Development Authority (NJEDA), the NJ LEAF Program offers two primary lending paths for eligible recreational cannabis businesses:
Fixed Asset Loans: Ranging from $100,000 to $1.5 million for property investments and equipment upgrades.
Working Capital Loans: Ranging from $100,000 to $500,000 to support day-to-day operational expenses and sustainable growth.
To qualify for funding, businesses must be New Jersey-based and hold a valid recreational annual license as either a cannabis cultivator or manufacturer.
In addition, businesses must have been in operation for at least one calendar year, employ fewer than 250 people, and report annual gross revenues of $5 million or less.
In an effort to address the historical impact of the "War on Drugs," five percent of the total funding is specifically reserved for businesses located in designated impact zones — areas disproportionately affected by past cannabis prohibition.
"This program empowers small businesses and advances the state's commitment to equitable economic development," NJEDA officials said in the announcement.
