Rosen urges giving legal cannabis businesses access to SBA loans

The Nevada State Development Corporation is experiencing a record volume of debt financing activity.
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Sen. Jacky Rosen, D-Nev., sent a letter Friday asking the appropriations committee to give legal, licensed cannabis businesses access to loans from the Small Business Administration.

They are currently prohibited from obtaining SBA loans because pot is still illegal under federal law.

She called for language in the credits legislation that would prohibit the SBA from denying a loan application simply because the legal, licensed business was in the cannabis industry.

“As a result, small businesses in states with some form of legal cannabis must choose between remaining eligible for SBA funding and support and participating or doing business with a rapidly growing legal industry,” he said. she declared.

The letter came as Rosen joined two dozen other senators in calling on appropriations members to allow nonprofit daycares access to the same SBA products and support as for-profit daycare operators. lucrative. This letter requests a total of $40 million for the child care loan program.

“Increasing access to capital for non-profit child care providers is an important piece of the puzzle to increasing the availability of high-quality kiddie cars for working families,” she said. declared.

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