Despite Pandemic, Cannabis Gets No Love From the Feds
The cannabis industry is not immune from the economic impacts of COVID-19. We could see supply disruptions, lower purchasing power by struggling consumers, and hits to tourism. Yet, unlike the country’s other struggling businesses, cannabis will get no federal lifeline.
As The Motley Fool notes, the cannabis industry is excluded from the $2 trillion relief package signed by President Trump. It is also excluded from the SBA’s new low-interest loans.
State and local governments could step in with some mitigation measures. But it remains to be seen how quickly they’ll materialize — and whether they’ll be enough to help cannabis businesses weather the storm.