Cannabis Banking: All Businesses are Marijuana Related Businesses March 2, 2022 AggregatedNews Banking, Finance & Real Estate 0 Comments by Vince Sliwoski, Attorney at Harris Bricken All U.S. businesses are marijuana related businesses (MRBs). By “all” I mean everyone from Amazon to your local hardware store, with very few exceptions. Allow me to explain. Guidance on banking and MRBs… Read More→
Why Cannabis Is Shut Out of $900 Billion Economic Aid Act January 18, 2021 Steven Schain Federal, Spotlight 0 Comments In tranches of up to $10 million, the federal government is doling out $900 billion of forgivable loans to borrowers other than “plant touching” marijuana-related businesses (MRBs). By Steve Schain In tranches of up to $10 million, the federal government is… Read More→
Cannabis Financial Hardship Solutions: Workouts, Receiverships, and Assignments for the Benefit of Creditors April 7, 2020 Steven Schain Policy & Legal 0 Comments With zilch in the till and creditors crashing through the door, what’s a respectable Cannabis business to do? Although federal bankruptcy protection is presently unavailable, Marijuana Related Businesses ("MRBs”) may obtain financial distress relief via “workouts” or state law receiverships or assignments… Read More→
MEDICAL AND RECREATIONAL MARIJUANA: Fire, Health and Safety Risks Associated with Cannabis Extraction Methods, and the Rules and Regulations Designed to Address Such Risks December 18, 2019 Reggie Snyder Policy & Legal 0 Comments PART 2 of 6: Fire, Health, and Safety Risks Associated with Cannabis Extraction Methods, and the Rules and Regulations Designed to Address Such Risks This article is the second part of a six-part series discussing the legal issues, operational challenges,… Read More→
Final Frontier for Cannabis Businesses: Bankruptcy Protection October 29, 2019 Steven Schain Policy & Legal 0 Comments Most businesses fail, marijuana businesses fail more greatly, but neither marijuana businesses, nor their owners, are entitled to bankruptcy law protection. Instead, because of marijuana’s 100% federal illegality, and because bankruptcy can’t be used to facilitate federally illegal activity or… Read More→
Trump Administration Bars SBA Loans to Cannabis Industry Support Businesses May 12, 2018 Steven Schain Policy & Legal 0 Comments In a policy notice effective April 3, the U.S. Small Business Administration (SBA) updated its standard operating procedures (SOP) to prohibit providing loans to both marijuana- and hemp- related businesses and businesses deriving any gross revenue from sales to marijuana… Read More→
Cannabis Banking Issues: All Cash and No Flash February 5, 2018 Steven Schain Banking, Finance & Real Estate 0 Comments Marijuana related businesses face staggering safety, security and operational issues. Ever accidentally find $7.2 billion of cash in your back pocket? The cannabis industry did in 2017, after virtually no bank would accept legalized marijuana sales deposits. Due to difficulty… Read More→