Zachary Kobrin wrote an article for Law360’s Expert Analysis - Opinion section, expressing the importance of including the cannabis industry, deemed an essential business in some states, in the U.S. Small Business Administration’s $360 billion initiative, aimed at supporting small businesses impacted by the shutdown resulting from the COVID-19 pandemic.
“With the realization that COVID-19 would have one of the greatest economic impacts on the United States in a generation, leaders have (relatively) quickly come to the rescue of businesses small and large in a multitude of industries. The goal, of course, is to keep companies afloat and keep food on the tables of millions of Americans.
However, the creation of $360 billion in U.S. Small Business Administration loans – $10 billion through the Economic Injury Disaster Loan, or EIDL, Program and $350 billion being made available as part of the $2 trillion Coronavirus Aid, Relief, and Economic Security, or CARES, Act passed by Congress on March 27 – has left one of the fastest growing industries in the weeds.
What has emerged in the midst of the global pandemic is the gaping disconnect between state governments and communities at large on one side and the federal government on the other. In addition to doctors, nurses, pharmacists, and grocery stores, the legal cannabis industry in many states has been deemed an essential business that should remain open to the public while nonessential businesses and residents have been ordered to stay at home or shelter in place.”