Medical marijuana dispensaries could be required to have 300-thousand dollars in capitol to open up shop. The state licensing board made its recommendations for financial requirements for medical marijuana licenses Tuesday. Michigan Public Radio’s Cheyna Roth has more.
If you want to grow medical marijuana, sell it, or transport it – you need to have enough liquid assets to qualify. And that could be thousands of dollars.
Chad Morrow is a former dispensary owner. He says he opened up a shop with a 25-thousand dollar loan. He doesn’t understand why there should be such a steep financial requirement to open a shop.
“It’s going to make it to where only people that are extremely well off – it’s liquid equity. I mean this is stuff that they have just to dispose of.” Says Morrow.
The state licensing department says the financial requirements make sure people getting in the business will be successful.