07/10/2025
Social Equity in Cannabis: The Promise and Pitfalls Across the U.S.
Michael Marinaro, too, was approved [by the social equity program] with ease. “I was accepted almost instantly when I wrote my story,” said the founder and CEO of Massachusetts-based brand Bada Bloom Inc.
But funding is not always easy to come by in these programs, even in states that appear to have prioritized financial aid for license winners. In Massachusetts, social equity entrepreneurs can access an “immediate needs grant” to jumpstart operations. Marinaro used the resource to pay [mortgage for its building] and other Bada Bloom! startup costs. ….. BadaBloom was approved for a $50,000 immediate needs grant and received the money right before Christmas 2024. “It was the best gift I’ve ever gotten in my life,” Marinaro said.
Marinaro said he’s been approached by investors [and other people saying they want to help you] with dishonest motives. “Being a social equity applicant, you just have predatory people always trying to attack you,” he said.
After the depleted fund was replenished in early 2025, Marinaro received an additional $250,000. Alongside his gratitude for support, he emphasized that Bada Bloom! nd other businesses still need much to achieve success. “I could have spent my $250,000 in about three minutes,” he said.
Bada Bloom!, like many others in Massachusetts, had been brand-building for a long time before any funds became available. “We were ready to go the whole time, just trying to make rent and mortgage, stay alive, and not go under,” Marinaro said. “A lot of small companies went under. I believe some of those companies would still be alive if that fund had come [back online] earlier…
Cannabis social equity programs aim to uplift marginalized groups but often fall short. Can better funding and regulation change that?
