Finance, Investing and Banking

New SBA lending rules could curb loans to hemp businesses

The U.S. Small Business Administration updated its lending guidelines with new rules that could have a major impact on businesses servicing the cannabis industry – and not just those on the marijuana side.

The revised guidance, published in early April, prohibits banks from issuing SBA-backed loans to any company that has a direct business relationship with a cannabis or hemp firm.

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Nevada CBD company buys California firm for $2.2M to expand into topicals, edibles

Nevada CBD manufacturer Leafceuticals is expanding into topicals and edibles with the $2.2 million acquisition of California’s Irie CBD products. The acquisition gives Leafceuticals a processing plant in Oakland, California, for expanding its CBD line. The agreement calls for Leafceuticals – a subsidiary of Las Vegas-based Freedom Leaf – to pay $400,000 cash and $1.8 […]

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Maricann plans to acquire Swiss hemp grower for 8 million Swiss francs

Ontario-based Maricann plans to acquire a hemp farm in Switzerland for 8 million Swiss francs ($8.5 million), making the Canadian medical marijuana producer the latest to seek a toehold in the lucrative European hemp market Maricann announced plans Wednesday to acquire hemp producer Haxxon AG, which grows hemp for CBD products in a 60,000-square-foot facility in […]

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$3.2 million hemp processing plant in New York gets state funding

A new $3.2 million facility near Binghamton, New York, is the first in the United States to receive some form of government assistance to promote the processing of hemp. The hemp processing plant, an unnamed project slated to open later this year, is receiving $650,000 from the state, Binghamton TV station WIVT reported. It is the […]

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CBD manufacturer buys stake in Canadian maker of hemp, MJ pharma products

A CBD manufacturer with offices in Canada and California is moving further into the Canadian cannabis market, acquiring a 25% stake in a company in the final stages of licensing to make hemp and marijuana pharmaceutical products. Isodiol International said it’s acquiring 25% of Canadian National Pharma Group, a pharmaceutical manufacturing company. Isodiol also has […]

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Hemp, CBD investments accelerating in Europe

Cannabidiol investments are heating up across Europe, as entrepreneurs race to capitalize on hemp and CBD business opportunities. A Swiss cannabis business, CBD420, is marketing hemp strains that meet Europe’s limit of 0.2% THC, with products for sale in more than 1,000 tobacco shops in Switzerland and more than a dozen shops in France, according to […]

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Marijuana banking confusion snags WA hemp clothing company

A Washington state clothing company has lost its bank account – even though it doesn’t work with marijuana – because of the use of hemp in its products. Owners of the natural-clothing company Rawganique in Blaine say they were shocked when Umpqua Bank – which is headquartered in Portland, Oregon – informed them it would no […]

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New York reinvigorating hemp program with $10M in grants

New York state is opening its ramped-up hemp program with a call for new growers and an offer of up to $10 million in grant funding. The grants come in two categories: $5 million will fund industrial hemp research, including nearly $1 million in partnerships with Cornell University and Morrisville State College to support industrial hemp […]

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New York aims to ramp up hemp industry with new law, funding

New York is bullish on hemp. Gov. Andrew Cuomo on Wednesday signed legislation aimed at boosting production of hemp and committed $10 million in state funds to ramp up the industry. In signing the bill into law, the governor said hemp holds great potential for New York’s agricultural and biotech industries. According to the Albany Times […]

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Medical Marijuana Inc. partners with CannaNative on CBD product

California-based Medical Marijuana Inc. and Native American company CannaNative have put together a hemp-derived CBD product line to be sold on tribal lands. The companies said in a news release Monday that Medical Marijuana Inc. and its HempMeds subsidiary will produce the product line, which will be sold under the CannaNative brand. It will be offered […]

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