While they pay taxes and provide jobs, North Bay cannabis businesses say they are facing a double standard when it comes to the COVID-19, because the federal view of their product as a controlled substance means no payroll relief loans.
“It's just one more way the federal government is punishing cannabis businesses,” National Cannabis Industry Association spokesman Morgan Fox told the Business Journal. “There's really nothing available to them.”
Fox pointed out that the state is giving the industry a hand.
For one thing, California has waived fees in these challenging times as companies struggle to operate and survive amid an era of trying to serve the uncertain consumer while facing increased expenses. Like many industries during the coronavirus outbreak, the financial strains may take an insurmountable toll on these businesses.
“I don't have an exact figure, but there will certainly be closures from this,” said Fox, whose Washington, D.C.-based organization represents 2,000 cannabis-related members. “They're facing additional costs to meet public safety protocols. It's unfair.”
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