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Senators Fight For Cannabis Industry Access To Federal Small Business Administration Financing
A group of Democratic Senators is urging the Senate Appropriations Subcommittee to level the playing field for the state-legal marijuana industry by adding to the Fiscal Year 2025 Financial Services and General Government Related Agencies (FSGG) spending provisions to prevent Small Business Administration (SBA) “from denying loan applications for the 7(a) Loan Guarantee Program, Disaster Assistance Program, Microloan Program, and 504/Certified Development Company Loan Program to legally operating cannabis small businesses in states that have legalized cannabis sale and use.”
The ten-member coalition led by Sen. Jacky Rosen (D-NV) highlighted that “SBA’s current policy excludes from its loan and entrepreneurial development programs all small businesses with ‘direct’ or ‘indirect’ products or services that aid the use, growth, enhancement, or other development of cannabis,” the senators wrote in the letter, reported Marijuana Moment.
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