US: Federal Agency confirms cannabis business are ineligible for Coronavirus disaster relief

The federal Small Business Administration (SBA) reiterated on Monday that cannabis companies are not eligible for disaster relief loans to lessen the blow of the coronavirus outbreak.

Because cannabis remains illegal at the federal level, the cannabis industry is being denied access to these aid opportunities, including programs administered by SBA. The agency’s Northwest branch confirmed that in a response to a tweet from a cannabis business owner who inquired about eligibility.

“With the exception of businesses that produce or sell hemp and hemp-derived products [that were federally legalized under the 2018 Farm Bill], cannabis-related businesses are not eligible for SBA-funded services,” the post states.

Read more at marijuanamoment.net


Publication date:



Receive the daily newsletter in your email for free | Click here


Other news in this sector:


© MMJDaily.com 2020

Sign up for our daily Newsletter and stay up to date with all the latest news!

Subscribe I am already a subscriber