Welcome to Rise & Roll, a bi-weekly newsletter that keeps you smart, savvy, and always in the loop on the latest in cannabis.

Here’s what we have on deck for today…

1. Cannabis loan program creates debt burden

2. California fair welcomes weed businesses again

3. Headline: New Jersey hoards pot tax money

Cannabis loan program creates debt burden

New York's social equity cannabis program designed to help formerly prosecuted individuals become dispensary owners has left many entrepreneurs drowning in debt.

Of the promised 150 turnkey storefronts, only 22 have opened. Those who participated, like Roland Conner, faced unexpected high-interest loans with restrictive terms that stripped them of business control while making them responsible for ballooning construction costs.

The disconnect between the program's good intentions and its troubling financial reality serves as a warning to cannabis entrepreneurs to carefully examine government financing programs before committing.

California Fair welcomes weed businesses again

California State Fair is rolling out the green carpet for cannabis businesses, adding new award categories and allowing on-site sales for the second year running.

The 17-day event will showcase blunts, hash, and chocolates alongside traditional categories like flowers and edibles. With 150 medals up for grabs, brands have a golden opportunity to build credibility with consumers.

"In just a few short years, cannabis has become a staple of the fair," says James Leitz, who runs the Cannabis Competition.

This mainstream presence at a 170-year-old state institution shows how far cannabis has come. For brands looking to boost visibility, the fair offers a unique chance to connect directly with curious customers while standing shoulder-to-shoulder with California's agricultural tradition.

New Jersey hoards pot tax money

New Jersey just doubled its cannabis tax and now plans to raise it another 500%, pushing it from $40 to $240 per pound.

Here's the kicker: the state has collected over $7 million from this Social Equity Excise Fee since 2022, but hasn't spent a penny on the communities it was meant to help.

Governor Murphy claims the money will support education and social services in areas hit hardest by cannabis prohibition. But while the state holds public hearings about how to spend the existing funds, it's already planning to collect much more.

For cannabis entrepreneurs, this signals a critical moment to speak up. With officials actively seeking input on how to allocate these millions, your voice at public hearings could help shape how this growing tax fund gets used.

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