The cannabis industry lobby urged governors to provide state-based loans for their businesses because cannabis companies are not eligible to receive funds from the coronavirus relief package.

The Coronavirus Aid, Relief, and Economic Security Act (CARES), a $2.2 trillion stimulus package passed by Congress in March, prohibits businesses engaged in cannabis-related activity from receiving any small business loans.

Six groups, including the National Cannabis Industry Association and National Cannabis Roundtable, wrote a letter to state treasurers and governors to ask for their help on Thursday.

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Alex Gangitano ~ TheHill.com ~