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Colorado Governor Announces ‘Landmark’ Marijuana Loan Program To Support Social Equity Businesses

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The governor of Colorado announced on Monday that the state is launching a loan program to support social equity marijuana businesses.

Gov. Jared Polis (D) and the Cannabis Business Office (CBO) said the state will be providing funding through a new Cannabis Business Loan Program, in partnership with the lending company NuProject.

Because marijuana businesses are often ineligible for traditional loan programs, this state-run initiative is meant to help fill that gap and provide resources for small businesses as Colorado’s cannabis market continues to evolve.

“This landmark loan program will create and retain 239 good-paying jobs and promote equity in the cannabis industry by providing growing businesses access to funding,” Polis said in a press release on Monday. “I am committed to saving small businesses money and ensuring our state remains a great place to start and run a business in every industry.”

“Thank you to NuProject for partnering with Colorado on this exciting milestone and working to support innovation in Colorado’s cannabis industry,” he said.

The loans, which will range from $50,000 to $150,000, are meant to fund renovations, expansions, equipment costs, real estate and “working capital.” The administration said that the loans will have “favorable and manageable terms

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DOJ Asks Federal Court To Deny Doctors’ Lawsuit Over Marijuana Rescheduling Hearing To Avoid ‘Undue Delay’

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The Justice Department is asking a federal court to dismiss a lawsuit from a group of doctors who are challenging their exclusion from marijuana rescheduling hearings, with the government arguing that it would be against the “public interest” to “derail” the process by litigating witness selection.

Doctors for Drug Policy Reform (D4DPR) recently challenged the Drug Enforcement Administration’s (DEA) rejection of their request to testify, making the case that the exclusion would cause irreparable harm to its membership as the agency proceeded with a proposal to move cannabis from Schedule I to Schedule III of the Controlled Substances Act (CSA).

On Friday, the Justice Department submitted a brief opposing the organization’s motion in the U.S. District Court for the District of Columbia Circuit. It said D4DPR identified “no error” from DEA in its initial selection of 25 witnesses to join the administrative hearings on rescheduling out of the 163 individuals and entities that requested the opportunity.

If all 163 prospective requesters were granted that request, it “could easily become an unwieldy hearing lasting months—if not years” before the proposed rule is potentially finalized,” it said.

“Nor do petitioners identify any injury that could not be cured on judicial review of

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Biden pushed for more cannabis clemency (Newsletter: December 13, 2024)

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Poll: Legalization support in WI; German legal marijuana sales pilot rules; Ukraine medical cannabis; Study: Cannabis suppositories for better sex

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/ TOP THINGS TO KNOW

Marijuana reform advocates are pushing President Joe Biden to expand on large grants of clemency he issued on Thursday by freeing people who are still incarcerated for cannabis offenses—and a new poll shows that 59 percent of Americans support additional marijuana and drug pardons.

A new poll shows that 65 percent of voters in rural Wisconsin support legalizing marijuana as Gov. Tony Evers (D) says the issue is a top priority for the 2025 legislative session.

Germany’s federal minister for food and agriculture

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Pennsylvania Lawmakers Announce New Marijuana Bill To Catch Up With Neighboring States That Have Already Legalized

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Two Pennsylvania lawmakers have announced plans to file a new bill to legalize marijuana in the commonwealth to fulfill a “moral obligation” to repair harms of criminalization while also raising revenue.

With the state’s Democratic caucus emboldened after retaining the House in last month’s elections—and Majority Leader Matt Bradford (D) saying there’s a “will” in the chamber to “move forward” with cannabis reform—Reps. Rick Krajewski (D) and Rep. Dan Frankel (D) are now circulating a cosponsorship memo to build support for the forthcoming legislation.

“As a state that continues to criminalize recreational cannabis, Pennsylvania is now an outlier—24 states have legalized the practice, including 5 of the 6 states that border Pennsylvania,” the legislators, who led a series of hearings on cannabis reform over the past year, said.

“But legal or not, Pennsylvanians are consuming marijuana, whether by visiting our bordering states, buying unregulated hemp loophole products at gas stations and vape shops, or purchasing in the illicit market,” they said.

Notably, the memo doesn’t mention the prospect of a state-run cannabis market, which Frankel, who chairs the Health Committee, had previously floated as a possibility. Last year he said that the model is “certainly an option.”

“We have a

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