US Cannabis Council Statement on the Fair Access for Cannabis Small Businesses Act
November 18, 2022
Contact: Nik Sibley, 850-345-7092, press@uscannabiscouncil.org
WASHINGTON, D.C. – Today, Senator Jacky Rosen (D-NV) introduced the Fair Access for Cannabis Small Businesses Act, a critical piece of legislation that would help ensure legally operating small cannabis businesses have access to Small Business Administration (SBA) loans and programs. Currently, SBA excludes from its loan and entrepreneurial development programs all small businesses with “direct” or “indirect” products or services that aid the use, growth, enhancement, or other development of cannabis.
USCC CEO, Khadijah Tribble, released the following statement:
“For Black and brown communities that have been ravaged by the war on drugs for decades, there is a light at the end of the tunnel as the end of cannabis prohibition comes near. But without access to capital through financing tools like SBA loans, most Black and brown cannabis entrepreneurs won’t get the chance to profit from an industry that was once used to stigmatize them — even in states where the plant has been legalized.”
“Senator Rosen’s landmark legislation would help advance equity and innovation in the cannabis industry by leveling the playing field for independent cannabis operators. If paired with the SAFE Banking Act, The Fair Access for Cannabis Small Businesses Act would create a regulatory framework that would ensure a vibrant startup scene and a diversity of players.”
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The US Cannabis Council (USCC) is the voice of America's regulated cannabis industry. Our business members include many of the largest cannabis companies in the nation, and our nonprofit members are leaders in cannabis policy, criminal justice reform, and more. By harnessing the collective power and reach of our 60+ member companies and nonprofits, we have become a leading force for ending federal prohibition and creating an equitable and values-driven cannabis industry. For more information visit https://www.uscc.org/