Senate Coalition Urges SBA to Support Small Cannabis Businesses


However, SBA’s current policy excludes small businesses with “direct” or “indirect” products or services that aid the use, growth, enhancement, or other development of cannabis from SBA-backed financing.

NORML Urges Congress to Provide Small Business Relief to State-Licensed Cannabis Companies


Representatives with the United States Small Business Administration (SBA) have reaffirmed that state-licensed cannabis businesses are ineligible for financial aid opportunities because marijuana remains classified as a schedule I controlled substance.

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Businesses Need Bank Accounts; Marijuana Shops Included


Imagine operating a business without a bank account. Imagine being forbidden from letting your customers pay for purchases with a credit card, or being able to ask a bank for a small business loan. This is the reality of hundreds of small and medium-sized business owners throughout the country who are engaging in the emerging cannabis marketplace. Currently, state-licensed marijuana businesses face a web of conflicting regulations.

Over 40 Members of Congress Request SBA Access For Small Marijuana Businesses


Ten members of the Senate, led by Senators Jacky Rosen (D-NV) and Ron Wyden (D-OR), and 34 members of the House, led by Representatives Earl Blumenauer (D-OR) and Tom McClintock (R-CA), have recently issued letters requesting Small Business Administration funding programs be expanded so that they may be accessed by state-licensed cannabis businesses. The majority of these businesses are small-to-medium in size. 2020 Advocacy Business Congress COVID-19 GOVERNMENT Policy

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Action Alert: Tell Congressional Leadership To Support Small Cannabis Businesses


Two of our greatest champions in Congress, Representative Earl Blumenauer and Senator Jacky Rosen, are circulating bipartisan sign-on letters to Congressional Leadership demanding that state-licensed cannabis businesses are able to access the Small Business Administration.

House Small Business Committee Moves Marijuana Bill Forward


As first reported by Politico, the House Small Business Committee is waiving jurisdiction over the Marijuana Opportunity, Reinvestment, and Expungement (MORE) Act ( HR 3884 ), making it the second House committee in the 116th Congress to advance legislation to end federal marijuana prohibition.

House Committee on Small Business Holds Hearing On Cannabis


Today, the House Committee on Small Business held a hearing entitled Unlocked Potential? Small Businesses in the Cannabis Industry to discuss the economic and employment opportunities in the emerging legal cannabis industry and the challenges that federal prohibition and criminalization pose in regards to the Small Business Administration. 2019 ACTIVISM Business GOVERNMENT INDUSTRY Policy

New Legislation Would Permit Marijuana Businesses to Access COVID-19 Relief


Representatives Earl Blumenauer (D-OR) and Ed Perlmutter (D-CO) have introduced legislation to allow state-legal marijuana businesses to apply for COVID-19 benefits through the Small Business Administration. Currently, the SBA is prohibited from engaging with cannabis businesses due to federal marijuana criminalization. The new legislation would create an exemption for the SBA to allow it and it’s employees to facilitate support to qualifying small marijuana businesses.

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Protecting Hemp-CBD Business Information

Canna Law Blog

Given this significant growth forecast, sensitive business information (also known as trade secrets) has become an incredibly valuable asset for Hemp-CBD stakeholders. Realizing value from those trade secrets requires sharing them with business partners and employees.

Chairwoman Velázquez Introduced Bill To End Marijuana Prohibition And Promote Small Businesses


House Small Business Committee Chairwoman Nydia Velázquez along with Representatives Jared Golden and Dwight Evans introduced a package of legislation, ( H.R. 3544 , to remove marijuana from the Controlled Substances Act and to extend several Small Business Administration (SBA) initiatives to small businesses operating in the cannabis sector. You can read more in the release issued by the Committee on Small Business here.

NORML Joins Civil Rights and Criminal Justice Groups To Support Small Cannabis Businesses


The Marijuana Justice Coalition, which is made up by groups including the Leadership Conference on Civil and Human Rights, Human Rights Watch, the ACLU, the Drug Policy Alliance, NORML, and others, has sent a letter to Congressional Leadership requesting that small marijuana businesses be able to access the emergency relief funds being administered by the Small Business Administration. RE: Protect Minority-Owned Marijuana Businesses and their Workers.

Prepare Your Cannabis Business for the TCPA

Canna Law Blog

For some reason, many cannabis businesses believe that because they’re already violating the federal Controlled Substances Act, they’re free to violate other existing federal laws. What can you do to prepare/defend your business for and against TCPA claims?

Cannabis Workers, Unemployment Insurance, and the Small Business Administration: What You Need to Know


There is no doubt that the COVID-19 pandemic is adversely impacting businesses around the world, and smaller businesses especially. That is why these businesses continue to face undue discrimination under federal law, including the lack of access to banking services and a prohibition of standard business tax deductions. Cannabis businesses not eligible for Small Business Administration disaster relief aid.

Nestle Muscle In On EU CBD Business

Cannabis Law Report

The post Nestle Muscle In On EU CBD Business first appeared on Cannabis Law Report. The food giants are muscling into the CBD game…The press release is chocka full of CBD “scientific” goblededook but the important thing to note is … Read More.

IRS May Allow Cannabis Businesses to Take Tax Deductions

Cannabis Law Report

A new IRS guidance says state-legal cannabis firms should be able to take business tax deductions under Section 471, a tax code approved in 2018 … Read More. The post IRS May Allow Cannabis Businesses to Take Tax Deductions first appeared on Cannabis Law Report.

Weedmaps to stop advertising unlicensed pot businesses

Cannabis Life Network

LOS ANGELES — The major online pot shop directory and cannabis marketplace Weedmaps announced this Wednesday that it will no longer allow black-market businesses to advertise on its site. The post Weedmaps to stop advertising unlicensed pot businesses appeared first on Cannabis News | Lifestyle Tips | Expert Opinions | Stocks. Blog Business Cannabis Legalization Editorial Featured Marijuana News dispensary pot shop Weed Maps

House COVID Package Includes Cannabis Banking Relief, But Not Small Business Support


Included in the language of the bill is HR 1595: The SAFE Banking Act, which amends federal law so that explicitly banks and other financial institutions may work directly with state-legal marijuana businesses. NORML also encouraged leadership to include separate provisions in the Act to permit state-licensed cannabis businesses to be eligible to receive loans and other types of financial assistance via the Small Business Administration (SBA).

Maine: Regulators Now Accepting Retail Marijuana Business Applications


State regulators have begun accepting applications from those wishing to open licensed retail cannabis facilities. Maine voters initially approved the legalization of adult-use cannabis sales in November 2016 by passing a statewide initiative, but lawmakers — led by former Republican Gov.

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How to Start a Medical Marijuana Dispensary Business in 2020

Cannabis Law Report

For all business owners who aren’t afraid of hard work and a tedious dose of bureaucratic tape, opening a medical marijuana dispensary can be a … Read More. The post How to Start a Medical Marijuana Dispensary Business in 2020 first appeared on Cannabis Law Report.

COVID-19: Ontario closing more businesses to combat coronavirus spread

Cannabis Life Network

The post COVID-19: Ontario closing more businesses to combat coronavirus spread appeared first on Latest Cannabis News Today - Headlines, Videos & Stocks. Cannabis shops being closed. Only the provincial cannabis online portal will remain open.

Businesses grow around NM medical cannabis producers

The NM Political Report | Medical Cannabis Program

As New Mexico lawmakers try to come up with a legislative proposal to legalize recreational cannabis that might ease the apprehension of some of their colleagues, there is already a group of business owners already laying the groundwork for a post-legalization world. Sometimes they’re called ancillary cannabis companies, other times they’re called cannabis adjacent businesses. Continue reading Businesses grow around NM medical cannabis producers at The NM Political Report.

Province announces new sales programs to benefit cannabis producers, Indigenous businesses

Cannabis Life Network

The post Province announces new sales programs to benefit cannabis producers, Indigenous businesses appeared first on Latest Cannabis News Today - Headlines, Videos & Stocks.

Risky Business: Cannabis Security Interests and Secured Transactions

Canna Law Blog

It’s no secret many cannabis businesses can’t get bank accounts or loans or lines of credit from financial institutions because of the Bank Secrecy Act and federal anti-money laundering laws — despite current FinCEN guidance.

Marijuana Business Financing: Tough Questions From Investors

Canna Law Blog

As veteran marijuana business owners (and virtually every other type of industry owners) know, there may come a point in time in the business when you are sitting across the table from someone who is offering to put money into your business. They may be your prospective business partner. Many of your closest family and friends have been close to you during your business growth. 2. Do You Understand the Financials of Your Business?

UK: FCA Issues Guidance -“Listings of cannabis-related businesses”

Cannabis Law Report

The post UK: FCA Issues Guidance -"Listings of cannabis-related businesses" first appeared on Cannabis Law Report. Here’s their text in full. In response to queries from cannabis-related companies interested in listing in the UK, the FCA is today setting out its … Read More. Cannabis Law News

Oregon Cannabis Businesses Impacted By Wildfires Ineligible For Federal Relief, Agency Confirms

Cannabis Law Report

Marijuana Moment has reported Small businesses impacted by recent wildfires in Oregon are now eligible for federal disaster relief—unless that business happens to be marijuana-related, … Read More.

Nevada Approves Cannabis Business Insurance Policy

Cannabis Law Report

Cannabis Business Insurance Policy Approved in Nevada.

Businesses Thrive Where Marijuana is Legal: Study


Once thought of as a drug that made individuals sluggish and unmotivated, recent studies are finding that marijuana could be good for businesses. A study conducted by researchers at the University of Iowa has found that legalization has “a multitude of positive effects” on businesses – and not just the ones that are a direct result of the new industry. Not only are businesses more productive and seeing higher profits after legalization, they are also seeing a spike in innovation.

Cannabis Testing + Branding = Business Building

Cannabis Law Report

If left to their own devices in Cannabis, a mixed bag of state regulations will continue to confuse the market as they rush to implement policies that are challenging for business and almost impossible for the consumer to understand. QUESTION: What’s the state of the Cannabis business today? . The days of easy money and wild west operations have proven to be costly for the industry, not only in product risk, but in operational costs and the often gross mis-valuation of businesses.

Wildfires destroyed at least seven cannabis businesses in Oregon – ‘confirmed total loss’

Cannabis Law Report

Once again our heart goes out to the individuals and businesses involved. Biz Jnls reports… Seven licensed Oregon cannabis businesses — five in Jackson County … Read More.

What Business Insurance Options Exist For the Growing Cannabis Sector?


Insurance options for cannabis businesses are limited. This has many business owners wondering what their options are. Many different business sectors cater to the overall growth and success of legal cannabis markets in the United States. However, each type of cannabis-centric business will have different requirements and needs when it comes to insurance. In most markets, some insurance requirements must be fulfilled by those doing business in the cannabis space.

UK struggles to regulate booming CBD businesses


The post UK struggles to regulate booming CBD businesses appeared first on Leafly. Producers and researchers in the UK are setting the standards themselves as regulations lag. CBD Industry cbd regulations United Kingdom

Audit Reveals 3,000 Illegal Cannabis Businesses in California

Marijuana Lawyer Blog

Approximately 2,835 unlicensed dispensaries were listed as trading across California, according to the audit conducted by the United Cannabis Business Association (UCBA), a trade association representing a wide variety of licensed marijuana businesses. If you need help registering a cannabis business or initiating proceedings against an illegal marijuana dispensary, our Los Angeles marijuana business attorneys are here for you. United Cannabis Business Association.

Is Bankruptcy Protection on the Horizon for Cannabis Businesses?

Canna Law Blog

After filing for bankruptcy, the debtor-landlord continued to accept rent from the cannabis business. The debtor-landlord proposed a plan of reorganization that would pay off its debts, which included some of the rent received from the cannabis business. Business Basics Legal IssuesAs most of us know, bankruptcy is just not an option for the cannabis industry or those even affiliated with it.

Does Your Cannabis Business Qualify for Trademark Protection? The Answer is Most Certainly “Yes!”

Canna Law Blog

We try to cover cannabis-related trademark issues thoroughly on this blog, because branding and trademark protection form the most basic foundation for most businesses. Business Basics Intellectual Property/Branding

Will Cannabis Businesses Get Federal Coronavirus Money? Probably Not.

Canna Law Blog

Right now, economic times are tough for almost every single American and individual business in this country, large or small. Specifically, CARES Act provides $2 trillion in funding to businesses and individuals affect by COVID-19.

Visa Stops Processing CBD Business

Cannabis Law Report

As of , May 15, many CBD business had yet another obstacle thrown in their path when they were notified that they could no longer accept Visa payments on their sites. This is especially distressing when taking into consideration the fact that CBD businesses have had a notoriously difficult time maintaining regular access to banking and payment processing services. They write.