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Politicians Push for Cannabis Loan Support as Part of COVID-19 PPP

Politicians Push for Cannabis Loan Support as Part of COVID-19 PPP
Don Moore
By Don MooreMay 08, 2020
Don Moore
Don is the co-founder and President of The Bluntness. His focus is on the intersection of the modern marijuana movement with sports, politics and business.
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Some politicians are trying to help those in the cannabis business get financial footing amid the COVID crisis, this according to a report by Yahoo Finance.

As lawmakers investigate a their next round of PPP funding, Yahoo Finance is reporting policymakers are investigating ways to help businesses left out of the first rounds of funding - casinos and cannabis businesses.

According to the publication, a handful of democratic senators and members of the House of Representatives are trying to find a way to help those small businesses in the cannabis industry that are legal operators, according to Yahoo Finance.

In a letter to leadership, the publication reports lawmakers said the following:

“Workers at state-legal cannabis businesses are no different from workers at any other small business… [they] are sources of economic growth and financial stability for thousands of workers and families, and need our support.”

Some lawmakers are also pushing to support casinos. The SBA currently excludes casinos as eligible for crucial loans. Read the full story here.

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