Home Categories Info Network

Cannabis Businesses Are Ineligible For Federal Coronavirus Relief

Permalink Report to webmaster

news  |  Mar 25, 2020

Cannabis Businesses Are Ineligible for Federal Coronavirus Relief

Even though cannabis is considered an "essential business" by many cities, the Small Business Association made it clear that any company that handles a federally-prohibited drug is ineligible for government assistance programs.

Even though cannabis is considered an "essential business" by many cities, the Small Business Association made it clear that any company that handles a federally-prohibited drug is ineligible for government assistance programs.

The US Senate has just agreed on a 2 trillion dollar stimulus package to help boost the economy during the coronavirus quarantine, but as usual, state-legal cannabis businesses are being left out of the picture.

On Monday, Greg Hubly, the owner of a small weed business in Washington State, asked the Small Business Association (SBA) whether cannabis companies would be eligible for federal relief packages. The Pacific NW chapter of the SBA responded that “with the exception of businesses that produce or sell hemp and hemp-derived products... marijuana-related businesses are not eligible for SBA-funded services.”

Hubly was not surprised by the agency's response. Cannabis plants containing more than 0.3 percent THC are still classified as marijuana, a Schedule I drug, and federal law prohibits any business that handles a controlled substance from receiving any sort of federal aid. Hemp, on the other hand, was made federally legal by the 2018 Farm Bill, and hemp businesses are therefore eligible for government coronavirus relief programs.

Source: https://merryjane.com/news/cannabis-businesses-are-ineligible-for-federal-coronavirus-relief

Continue reading

Nobody has rated this post!
Vote now!
Cumulative results: 0 points • Rating: 0.000

Send a comment 0 comments

Leave a comment

Your name (required)
Your email (required)
Your website URL (optional):
Save your details in cookies (only on this browser)