Cannabis businesses in Canada benefited from millions of dollars in pandemic-related subsidies from the federal government. Other businesses tapped into interest-free loans and lending offered by agricultural lender Farm Credit Canada (FCC), according to financial statements. At least 18 cannabis businesses, ranging from producers to extractors, collected more than 25 million Canadian dollars ($19 million) from the federal government’s Canada Emergency Wage Subsidy (CEWS) program so far. The CEWS program provides a 75% wage subsidy for businesses suffering a decrease in revenues and was originally retroactive to March 15. The government has signaled it plans to extend CEWS to next summer.
SpeedWeed, 11/22/2020 21:35:02
Open article: https://speedweed.com/canadian-cannabis-firms-received-millions-in-pandemic-subsidies/