Wednesday, April 29, 2020

Cannabis businesses could see relief money

Posted By on Wed, Apr 29, 2020 at 10:09 AM

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Cannabis businesses in states where weed is legal have so far been left out of the coronavirus relief funding appropriated by Congress. 

However, a bill introduced April 23 by Reps. Earl Blumenauer, D-Oregon, and Ed Perlmutter, D-Colorado, would allow them to apply for Paycheck Protection Program loans and other funding through the Small Business Administration (SBA).

“Cannabis businesses are major employers and significant contributors to local economies in Colorado and across the country,” Perlmutter said in a statement. “They should receive the same level of support as other legal, legitimate businesses and be eligible for SBA relief funds during this COVID-19 crisis.”

The bill is co-sponsored by 16 other lawmakers, including Colorado Democratic Reps. Jason Crow, Diana DeGette and Joe Neguse. 

It was referred to the House Committee on Small Business on April 23. 

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