Scorecard

ASSESSMENT SCORE

A completed grant application will be reviewed by the Elevate Impact LA Grant Committee. Given the limited grant funds, grants will be made on a first come first served basis. If a grant application does not pass, feedback will be provided, and the SEED Grant Applicant can resubmit their grant application.

The documents that will be reviewed as a part of the SEED Grant Program Assessment include the following (sample scorecard can be found here).

  • A1. Assessment of explanation of how funding will be used (uploaded with Application Materials)
  • A2. Assessment of Use of Proceeds Statement/Budget (uploaded with Application Materials)
  • A3. Assessment of Business Executive Summary (uploaded with Application Materials)
  • A4. Assessment of Monthly Financial Projections for a 12-month period

GRANT USE OF PROCEEDS

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

  • Accounting fees
  • Architect fees
  • Bookkeeping systems and fees
  • Branding (name, logo)
  • Bringing space into compliance with local building codes and regulations
  • Consultants
  • Equipment & furniture
  • Event permits
  • Insurance
  • IT and Website
  • Legal Fees
  • Maintenance/upgrades
  • Marketing and Advertising
  • Rent/lease payment
  • Staff and Contractors
  • State license fees
  • Structural engineer

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 cannabis permit
  • 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

RESERVATION OF RIGHTS

The City of Los Angeles reserves the right to evaluate and revise the SEED Grant Program in the future based on information gathered in its evaluation.