The hemp industry scored a victory on Tuesday after the Senate passed a coronavirus relief bill that, for the first time, will allow farmers to access a certain federal loan program amid the pandemic.
Farmers have historically been left out of disaster relief legislation through the federal Small Business Administration (SBA) because they’re eligible for separate programs under the U.S. Department of Agriculture (USDA). But those programs are designated for natural disasters, and so industry advocates have been pushing Congress to allow farmers to be eligible for SBA’s Economic Injury Disaster Loan (EIDL) program.
With the coronavirus response bill expected to be passed by the House and signed by President Trump later this week, it seems they got their wish. The development comes after a coalition of hemp industry associations sent a letter to the SBA head, urging a policy change to ensure access to EIDL.
As before, hemp farmers and businesses are eligible for SBA’s Paycheck Protection Program under the new legislation.
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