In the face of the staggering economic consequences from the continued societal shutdown because of the novel coronavirus, some hemp businesses hope to see stimulus payouts to keep them operational.
A new disaster loan stimulus bill which passed through the House of Representatives Thursday may grant hemp farmers and entrepreneurs a chance at distastes loans and other resources to help themselves out of the current crisis.
Shutdown orders from state governors all across the U.S. have had varied effects on the places where they’ve been enacted, but there is no dispute that industries and ordinary people everywhere are hurting.
According to reporting at UPI, the Paycheck Protection Program Increase Act, which the Senate passed earlier this week, now expands its considerations to hemp farmers.
The system of emergency loans and payouts will be administered by the U.S. Department of Agriculture if the bill is signed by President Trump, which reports show is the likely outcome.
“Agriculture is deemed essential, but there's an agricultural dynamic that's being created by the pandemic where it's interfering with the supply chain,” Colorado Hemp Industries Association President Tim Gordon told UPI. “These disruptions are going all the way to the hemp farmers.” [1]
Hemp businesses with fewer than 500 employees may also be eligible for the loans, aimed at easing the financial burden of an unprecedented national shutdown.
Not every cannabis business has fared the same in the wake of the gargantuan economic shifts in recent weeks.
In some states with legalized medical and recreational marijuana programs, marijuana dispensaries have been added to the lists of “essential” businesses in operation, meaning they have remained open and helped customers all throughout the pandemic crisis.
The irony is hardly avoidable, given how harshly the drug war has been fought for so long in the past and even now in some parts of the country.
Of course, marijuana is not the only hemp product available on the market, and CBD has also established itself as a force to be reckoned with as a wellness resource.
People use CBD for their chronic pain, insomnia, forms of epilepsy and anxiety, which can certainly run high in uncertain and stressful times like these.
At Nothing But Hemp, some of the best organic and award-winning CBD products are available for purchase even despite the ongoing COVID-19 epidemic.
As an essential business, Nothing But Hemp continues to offer brands like Charlotte’s Web CBD, Minny Grown CBD and Siskiyou Sungrown Organic CBD.
For the time being, Nothing But Hemp customers can find products online, via phone and mail orders, and products are also available for curb-side pickup for maximum hygiene and convenience.
Sources