Scoring Criteria for Applications

The Act contains the scaring criteria that the IDFPR will utilize to score applications for new dispensing organizations.50 out of 250 points, or 20 percent of the total points available, are designated for applicants that qualify as “social equity applicants.”The remainder of the points are designated for the following:65 points — security and record keeping65 points — business plan, financials, operating and floor plan30 points — knowledge and experience15 points — suitability of employee training plan5 points — labor and employment practices5 points — environmental plan5 points — Illinois owner (51 percent or more of ownership)5 points — status as a veteran (51 percent or more of ownership)5 points — diversity plan § IDFPR may award up to 2 bonus points for a plan to engage with the community the applicant will be located in.The Department of Agriculture will develop a similar application scoring system through the rulemaking process for cultivation centers, infusers, craft growers and transporting organizations. The application for each license type will designate 20 percent of the total points for applicants that qualify as “social equity applicants.” 

Banking Suggestions For Cannabis Firms

Get your records in order , Utilize professional advisors , Raise more than enough capitalUse organization structure to isolate risk, Segregate cannabis from non-cannabis banking, Utilize a banking network, Vet your bank, Engage your network- customers and suppliers, Keep your banker happy, Merchant accounts- play it safeStay nimble 

Get Your Records in Order

Historical Financials Tax Returns Projections Organization Structure Ownership Structure Owner Background Licenses

Scoring Criteria for Applications – Accounting Services in Chicago – Contact Us

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