New Mexico will provide business loans of up to $250,00 toward small-scale cannabis businesses in an effort to provide economic opportunity to communities that were hit hard by past criminal enforcement of marijuana laws. New Mexico will provide business loans of up to $250,00 toward small-scale cannabis businesses in an effort to provide economic opportunity to communities that were hit hard by past criminal enforcement of marijuana laws. The Regulation and Licensing Department on Thursday announced that the loan program is moving forward after a legislative panel provided approval this week. The New Mexico Finance Authority is planning for a $5 million line of credit for cannabis entrepreneurs, with an average loan size of about $100,000. The application process is expected to open in February.
Cannabis Law Report, 12/03/2021 02:25:00