New bill would allow cannabis businesses to apply for SBA loans

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SMALL BUSINESS LOANS

New bill would allow cannabis businesses to apply for SBA loans

Democratic U.S. Senator Jacky Rosen of Nevada introduced legislation that would make regulated cannabis businesses eligible for loans and other programmes from the federal Small Business Administration (SBA), reports Forbes

The bill would: 

  • Ensure licensed cannabis businesses have access to the same benefits available to other legal businesses. 
  • Ensure cannabis businesses have access to the SBA’s resource partners such as the SCORE business mentoring programme, Veterans Business Outreach Centers and Women’s Business Centers. 

Rosen commented: “This legislation will level the playing field so that small cannabis businesses – including those owned by people of color, women, and veterans– have access to the same federal resources and loans that other legal businesses are entitled to.”


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FAILED PROHIBITION

Latin American leaders announce international conference to ‘rethink’ drug policy

Marijuana Moment reports that the presidents of Columbia and Mexico have announced they will be bringing together other Latin American leaders for an international conference focused on “redesigning and rethinking drug policy”. 

In light of the “failure” of prohibition, the pair will be collaborating with the broader international community to create new drug policy, signaling that the discussions will center on moving away from a criminalisation model. 

Colombian President Gustavo Petro has stated: “We are killing each other, and it is the product of prohibition.”


A SHRINKING MARKET

What can other countries learn from Canada’s medical market?

With Canada’s regulated medical cannabis market having dwindled from its peak, the country could provide lessons for other nations, reports MJ Biz Daily

The publication highlights that mature cannabis markets in the U.S. have exhibited a similar dynamic, with medical markets shrinking after recreational legalisation – raising the question of whether a similar medical market decline could occur in Germany, Europe’s biggest cannabis market, if that country follows through on its adult-use plan. 

“I don’t think that the trajectory that we’ve seen in legal markets where, basically, post-(recreational) legalization we see medical sales have declined, will necessarily continue in Germany,” said Deepak Anand, a board member of nonprofit advocacy group Medical Cannabis Canada and a consultant on cannabis regulations for several international governments.


PATIENT OPPORTUNITY

Poland’s medical cannabis scheme could flourish as neighboring countries head to legalization

BusinessCann writes that, should Germany and Czechia launch adult-use cannabis markets in 2024, neighboring Poland would share a collective 800-mile border with cannabis-legal nations. 

Having legalized cannabis for medicinal use in 2017, the publication highlights that an amendment to the Act on Counteracting Drug Addiction has enabled the cultivation and harvesting of ‘non-fibrous hemp intended for the manufacture of pharmaceutical raw material’. 

Additionally, a second new law has seen the level of THC in raw plant material rise from

0.2% to 0.3%, which, according to Kombinat Konopny’s CEO Maciej Kowalski, will see Polish hemp fields return to growth next year after two years of decline which have seen them almost halve since 2020. 

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