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For plant-touching marijuana companies, most lending options tied to property

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When it comes to borrowing money as a marijuana company, most roads lead to real estate.

“The industry has challenges accessing capital markets that other industries do not,” Travis Goad, managing partner at Pelorus Equity Group, said of plant-touching marijuana companies.

“In a fully developed market, there’s real estate as one lending source and then there are pure corporate loans as another lending source. In this space, the vast majority of financing is tied to your real estate,” added Goad, whose firm is a cannabis-focused real estate lender.

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Applications for cannabis business licenses often require proof of real estate, leaving precious little capital for successful applicants to get their companies up and running.

For marijuana businesses that own property, there are three main ways to borrow, according to Goad, who runs Pelorus’ New York office:

Real estate lending: These loans require borrowers to contribute 25%-40% in

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Union’s initiative to organize Oregon marijuana workers nears ballot

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An Oregon union has spent more than $2 million trying to get an initiative on the November ballot that would make it easier for marijuana retail and processor employees to organize.

The United Food and Commercial Workers (UFCW) Local 555 – one of the biggest unions in Oregon with tens of thousands of members – went the ballot route this year after failing to get a similar measure passed through the Oregon Legislature in 2023, according to Oregon Public Broadcasting.

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Michael Selvaggio, political director for the Local 555, estimated the union spent $2.4 million on the signature-collection campaign.

The UFCW is optimistic the initiative will make the ballot after submitting more than 163,000 signatures to the Oregon secretary of state’s office by

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Is hemp the enemy of Florida’s adult-use marijuana initiative?

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Florida hemp businesses are lining up to oppose an adult-use marijuana legalization initiative that will appear on the state’s November ballot, according to campaign finance forms and MJBizDaily interviews.

They’re aggrieved by what they say is a monopoly play for a future adult-use market deliberately engineered by marijuana multistate operators.

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And with more than 10,000 hemp businesses registered in the state – compared with a few dozen large marijuana companies – hemp operators opposed to Amendment 3 believe they have enough money and votes to defeat the recreational marijuana measure largely funded by Tallahassee-based MSO Trulieve Cannabis.

In response, advocates for regulated marijuana operators say the hemp firms are being used as pawns in a game played by Florida Gov. Ron DeSantis, who will

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Trump VP pick Vance opposed marijuana banking but silent on legalization

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U.S. Sen. JD Vance, the Ohio Republican whom Donald Trump picked as his running mate for the November presidential election, is no supporter of federal marijuana reform.

Nor did the 39-year-old former investment banker and “Hillbilly Elegy” author support adult-use marijuana legalization in Ohio last year.

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But Vance doesn’t appear to be much of a cannabis-culture warrior, either, preferring instead to spend his political capital elsewhere.

No ‘friend’ of marijuana industry

“Is Vance a friend of the industry? Absolutely not,” Steve Schain, a Philadelphia-based attorney who specializes in cannabis banking and taxation issues, told MJBizDaily by phone on Tuesday.

“His first and only concern is fortifying and furthering his federal role.

“That being said, like most classic libertarians, he doesn’t want to disturb

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