Cannabis Social Equity Loan Program
Cannabis Social Equity Loan Program Partnership
Credit Union 1 (CU1) has been selected to participate in the Illinois Department of Commerce and Economic Opportunity (DCEO) Cannabis Social Equity Loan Program.
This $34 million dollar fund will provide low-interest loans to social equity licensees within the State of Illinois.
Credit Union 1 and the DCEO share the common goal of promoting the equitable growth of the Illinois cannabis industry by ensuring the availability of flexible and low-cost financing to licensed cannabis business establishments in Illinois.
CU1 is the ONLY lender that provides banking services in addition to Cannabis Social Equity Loans
- Start by submitting your loan application to DCEO
- After you receive your DCEO approval from the State — be prepared to answer these questions. >> Cannabis SEL Applicant Questions You will be contacted by our CU1 team member:
Brendan Healy, VP Commercial and Consumer Business Development
- Approvals can be obtained in as little as 48 hours once all loan application documents are provided
- Flexible term up to 5 years
- No prepayment penalties
CU1 will help GROW your Cannabis Business with a full array of Banking Solutions that include:
Your employees are eligible for CU1 personal accounts with access to our innovative financial solutions.