PORTLAND, Ore. (KOIN) — US Representative Earl Blumenauer has always been an advocate for legalizing marijuana and making it a legitimate, taxable business. On Friday, he sent a blistering letter to the head of the Small Business Association after new guidelines prevent small businesses from getting loans if they are in any way connected to the growing cannabis industry.
Blumeanuer’s letter notes the new guidelines would prevent the SBA “from supporting loans to many small businesses in Oregon, 45 other states, Guam and Washington DC — all of which have legalized some form of cannabis (adult-use, medical and/or CBD.)”
“…Countless small businesses including architecture firms, accountants, garden supply businesses and construction companies across the country will be put at a competitive disadvantage if just one of their clients are part of the burgeoning cannabis industry – an industry that was in many states created by voter ballot initiatives….”
Blumenauer called on SBA Administrator Linda McMahon “to repeal this guidance immediately.”