New Law Would Allow Medical Marijuana Sellers To Get Bank Loans
VN:F [1.9.6_1107]
Rating: 0.0/5 (0 votes cast)

New Law Would Allow Medical Marijuana Sellers To Get Bank Loans

Small Business Banking improvement Act and Small Business Tax Equity Act empower legal marijuana

Two new bills could make it easier for businesses that sell medical marijuana to stay in the green, er, black. Under the Small Business Banking improvement Act, accredited marijuana dispensaries would be able to apply for bank loans, and the Small Business Tax Equity Act would allow them to deduct business expenses when filing their taxes.

Currently, businesses that sell medical marijuana in states where doing so is legal, are barred from applying for traditional forms of credit. “I am really happy to see these bills introduced today,” Aaron Smith, executive director of the National Cannabis Industry Association, told The Colorado Independent. “For the first time, we have members of Congress standing up for this industry. For the first time, we are seeing legislation pushed on behalf of these small business owners.”

 

VN:F [1.9.6_1107]
Rating: 0.0/5 (0 votes cast)
VN:F [1.9.6_1107]
Rating: 0 (from 0 votes)

Leave a Reply

*