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Code · BILL · 116th Congress · H.R. 3540 (Introduced in House) — To ensure that certain loan programs of the Small Business Administration are made available to cannabis-related legi... · Sec. 3

Sec. 3. 7(a) loans to cannabis-related legitimate businesses and service providers

351 words·~2 min read·/bill/116/hr/3540/ih/section-3

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(a)loans to cannabis-related legitimate businesses and service providers Section 7(a) of the Small Business Act ( 15 U.S.C. 636(a) ) is amended by adding at the end the following new paragraph: The Administrator may not decline to provide a guarantee for a loan under this subsection to an otherwise eligible small business concern solely because such concern is a cannabis-related legitimate business or service provider. In this paragraph: The term cannabis has the meaning given the term marihuana in section 102 of the Controlled Substances Act. The term cannabis product means any article which contains cannabis, including an article which is a concentrate, an edible, a tincture, a cannabis-infused product, or a topical. The term cannabis-related legitimate business means a manufacturer, producer, or any person or company that is a small business concern and that— engages in any activity described in subclause
(II)pursuant to a law established by a State or a political subdivision of a State, as determined by such State or political subdivision; and participates in any business or organized activity that involves handling cannabis or cannabis products, including cultivating, producing, manufacturing, selling, transporting, displaying, dispensing, distributing, or purchasing cannabis or cannabis products. The term manufacturer means a person who manufactures, compounds, converts, processes, prepares, or packages cannabis or cannabis products. The term producer means a person who plants, cultivates, harvests, or in any way facilitates the natural growth of cannabis. The term service provider — means a business, organization, or other person that— sells goods or services to a cannabis-related legitimate business; or provides any business services, including the sale or lease of real or any other property, legal or other licensed services, or any other ancillary service, relating to cannabis; and does not include a business, organization, or other person that participates in any business or organized activity that involves handling cannabis or cannabis products, including cultivating, producing, manufacturing, selling, transporting, displaying, dispensing, distributing, or purchasing cannabis or cannabis products. The term State means each of the several States, the District of Columbia, Puerto Rico, and any territory or possession of the United States. .
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Sec. 3
7(a) loans to cannabis-related legitimate businesses and service providers
U.S.C.§ 636
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