Keep it up, everyone. Even though the rules and regs are yet to be completed it will just be a few more weeks before the remaining applications for cannabis businesses will open. The stress, anxiety and craziness will pass. Stay vigilant. Keep your eye on the prize and you will be rewarded.

There will be another Cannabis Division Rules Hearing on December 30 regarding Adult Use Cannabis Marketing, Advertising, Packaging, and Labeling & Edible and Topical Product Safety. You can download and review the Proposed Draft Rules HERE.

This is a really important hearing, so don’t miss out. Click through to register for the hearing and be sure to mark your Calendar. It’s so easy to miss this kind of stuff during the Holidays.

Time PortalThe Portal Has Been Opened

NMRLD announced they have opened the web portal to begin accepting applications for manufacturing and retail ventures on Tuesday, 12/07/2021.

Off to a rocky start due to heavy traffic and a non-functional credit card processing component, no applications could be completed on day one, unless the applicant could deliver a certified check to the RLD office in Albuquerque. Ahead of schedule from the original January 1, self imposed deadline, CCD and RLD are trying to move up deadlines in hopes of softening of the projected cannabis shortage once recreational cannabis sales start April 1, 2022.

Only Nostradamus could say what will really happen (even he was wrong many times), but logic concludes we are headed for a shortage and things will get crazy. The bright side? The coming shortage, like all big storms, will sooner or later run out of rain. Even brighter, come the fall of 2022, New Mexico will experience one of the greatest cannabis crops of all times due to the enormous amount of new micro businesses and personal growers across our Land of Enchantment.

New Mexico Regulation and Licensing Department LogoState Announces A $5M War Chest To Help Finance Cannabis MicroBusinesses

The New Mexico Regulation and Licensing Division has released a press release on Dec 2 with regard to funds being appropriated to help NM Cannabis Microbusinesses. From the release…

SANTA FE—The New Mexico Finance Authority Oversight Committee on Tuesday approved a new, $5-million loan program aimed at helping licensed cannabis microbusiness—specifically those operated by members of communities disproportionately impacted by previous cannabis law enforcement or located in rural communities—succeed.

“Through the Cannabis Microbusiness Loan Program, NMFA looks forward to providing access to capital to help even more New Mexicans benefit from the economic opportunities created by the legalization of adult-use cannabis,” said Marquita Russel, Chief Executive Officer of the New Mexico Finance Authority. “This program will give New Mexico small businesses, particularly in rural and economically-disadvantaged communities, a tool to make this industry more accessible and help get their businesses off the ground.”

The application system for the Cannabis Microbusiness Loan program is expected to be available by February 1, 2021, and applications will be accepted and reviewed on a monthly basis. The first loans are expected to be made in March 2022.

Hold on. Not so fast. There is still a tremendous amount of work to complete before they will start handing out checks. Have your business plan, forecast and all required permits together before you start the process. But don’t wait too long, you would be surprised how fast $5m will go. Keep an eye out for the application on or before Feb 1.

You can download the complete press release here, and we wish everyone who applies gets the funds they need.