Senators Call For Economic Assistance For Cannabis Firms Amid Outbreak • High Times

  • A group of 11 Democratic lawmakers is calling for cannabis businesses to be allowed to receive economic assistance from the Small Business Administration in the midst of the continuing coronavirus pandemic.
  • Because of marijuana’s continuing classification as a Schedule I drug, licensed cannabis companies are excluded from receiving federal assistance from the SBA.
  • Consequently, small businesses in states with some form of legal cannabis must choose between remaining eligible for SBA loan programs, or doing business with a rapidly-growing and legal industry, the senators added.
  • In this time of crisis and unprecedented federal support for the economy, Congress should not allow all of the small and midsize cannabis businesses to be excluded by the SBA, Strekal said .

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