Two Relief Options California’s Small Cannabis Businesses Shouldn't Miss
State Treasurer Fiona Ma has confirmed to Cannabis Business Times that small marijuana businesses are eligible for a sales tax extension and a $50,000 bridge loan program available from the state.
“Ma says that small businesses may keep up to $50,000 of their sales tax payments for a year, effectively using the cash as a no-interest bridge loan between now and next summer,” the publication reports. “The $50,000 would need to be paid back in installments by June 30, 2021. This bridge loan is available to businesses will less than $5 million in annual revenue.”
Learn more about the bridge loan program and application process here.