SOURCE: Cheddar News
Date: May 19, 2020
READ FULL STORY
The U.S. House of Representatives narrowly approved a $3 trillion coronavirus stimulus bill on Friday that includes provisions for cannabis banking, even as opposition to the measure builds in the Republican-controlled Senate.
The bill named the Health and Economic Recovery Omnibus Emergency Solutions (HEROES) Act passed 208 to 199.
[...]
"The cannabis industry is getting hit with the same challenge everyone else is, but they don't have access to the funding that every other business has right now to continue to keep those people employed," said Keegan Peterson, founder and CEO of cannabis human resources management company Wurk.
But Peterson, who has had front row seats to the devastation the pandemic has wreaked on an industry already suffering after a challenging 2019, said it's more nuanced than that.
"[Cannabis is] an essential business, but that doesn't mean that cannabis revenues are going through the roof. I think there has been a false narrative. Cannabis companies in March had their highest day in revenue, they also had their lowest day of revenue," he said. "Folks are talking about the good things that are happening at this time, and they are not being as open about the challenging things that are happening."
