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Access to Loans for Legal Cannabis Businesses and Service Providers

This act aims to facilitate access to loan programs and support for small businesses involved in cannabis that operate legally under state law. This means such businesses will no longer be rejected from Small Business Administration (SBA) programs solely due to their cannabis-related activities, which can help them grow and create jobs.
Key points
Legal cannabis-related businesses and service providers will gain access to SBA 7(a) loans, disaster loans, and microloans.
These businesses will be able to utilize small business support programs, including small business development centers, women's business centers, SCORE, and veteran business outreach centers.
The act seeks to remove barriers to financing and support for legally operating cannabis businesses, potentially contributing to their growth and stability.
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Expired
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Additional Information
Print number: 117_S_5131
Sponsor: Sen. Rosen, Jacky [D-NV]
Process start date: 2022-11-17
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Fair Access for Cannabis Small Businesses Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_S_5131.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2022-11-17.

What are the main provisions?

Key points include:

  • Legal cannabis-related businesses and service providers will gain access to SBA 7(a) loans, disaster loans, and microloans.
  • These businesses will be able to utilize small business support programs, including small business development centers, women's business centers, SCORE, and veteran business outreach centers.
  • The act seeks to remove barriers to financing and support for legally operating cannabis businesses, potentially contributing to their growth and stability.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Sen. Rosen, Jacky [D-NV].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-29.

CATEGORIES

Economy