Elevate Impact Grant Review Committee Assessment

A completed grant application will be reviewed by the Elevate Impact Grant Review Committee. The documents that will be reviewed as a part of the Elevate Impact Grant Review Committee Assessment include the following:

A1. Assessment of Written Narrative of how funding will be used (uploaded with Application Materials)

A2. Assessment of Budget (uploaded with Application Materials)

A3. Assessment of Business Executive Summary (uploaded with Application Materials)

A4. Assessment of Monthly Expense Projections for a 12-month period (uploaded with Application Materials)


GRANT USE OF PROCEEDS:

Eligible Use of Proceeds includes reasonable expenses incurred to launch and operate the Grant Recipient’s business. Such items shall include, but shall not necessarily be limited to, the following:

• Rent

• Lease

• Equipment

– Laptop Computers/Tablets

– Printer

– Mobile Phone

– Software/P.O.S.

– Safe

– Security Cameras

– Desks

• Local and State Application, licensing and regulatory fees

– Local application fee

– State application fee

– Licensing fee

– Regulatory Fee (please describe)

• Legal Assistance

• Regulatory compliance

– Insurance -general liability

– Insurance – workers’ compensation

– Insurance – auto

– Insurance – property

– Insurance – other (please describe)

– Packaging

– Track and Trace

– Accounting/Bookkeepping

• Testing of cannabis

• Furniture

• State License

• Fixtures and equipment

• Capital improvements

– Architect Fees

– Structural Engineer

– Buildout costs for compliance

• Workforce training and retention

• Other

– Marketing and Advertising

– Consultant

Ineligible Use of Proceeds includes, but may not be limited to, the following:

  • Operating an unlicensed cannabis business
  • Buying cannabis or cannabis related products
  • Relending or investing
  • Expenses for a business that does not require a City of Los Angeles Commercial Cannabis License
  • Personal expenses or the acquisition of personal property such as cars, homes, etc.
  • Payments or distributions from borrower to its principals, partners, members, investors or employees other than for ordinary compensation for services rendered
  • Refinancing existing debt