Senators are urging the Senate Appropriations Subcommittee on Financial Services and General Government (FSGG) to level the playing field for the state-legal marijuana industry by extending Small Business Administration (SBA) programs and services.

Cannabis companies currently are barred from obtaining SBA loans due to federal law, which classifies marijuana as a Schedule 1 substance.

Equal Opportunities To State-Legal Cannabis Entrepreneurs

Led by Sen. Jacky Rosen (D-NV), lawmakers sent a letter calling on committee leadership to provide the same opportunities for growth and success as other small businesses, reported Marijuana Moment.

“Currently, most banks are reluctant to serve even state-legal cannabis businesses due to conflicts with federal law, meaning that these legally operating small businesses often are forced to operate …

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