BISNOW: “If entrepreneurs in the cannabis industry will be able to access capital and loans similar to firms in practically every other industry, that will be a huge boon to businesses and to consumers alike. At present, the current situation requires business owners in the cannabis space to operate in incredibly risky territory: the federal government considers them outlaws, banks won’t even touch their money and they’re forced to deal only in cash,” Consumer Choice Center Deputy Director Yaël Ossowski said.
“Even where cannabis is legal under state law, this means consumers are still encouraged to turn to the black market rather than the new legitimate market for cannabis,” Ossowski said. “If firms in the cannabis industry are able to access capital fast and easily, through legal means, that means they will be able to grow their operations, hire more employees, make investments and consumers will be better off for it.”
