No applicants yet for Arkansas’ medical MJ business licenses

Just Released! Get realistic market forecasts, state-by-state insights and benchmarks with the new 2024 MJBiz Factbook member program, now with quarterly updates. Make informed decisions.

Would-be medical cannabis growers and dispensary owners in Arkansas have been able to submit applications for business permits for the past week and a half, but none have done so yet.

Of course, hopeful marijuana businesses still have more than two months until the Sept. 18 deadline to apply for the five cultivation licenses and 32 dispensary permits.

So, while it’s too early to draw any conclusions from the lack of applications, the hefty financial requirements may have discouraged some applicants: Each grow applicant must prove access to $1 million in assets and $500,000 in capital, while dispensary candidates must show $200,000 and $100,000, respectively, reported.

Regulators will evaluate applications after the window for submissions ends in September. Medical cannabis sales are expected to begin in early 2018.