Stimulus Dollars Available for Hemp Farmers and Small Businesses

U.S. Hemp Roundtable info@hempsupporter.com

Great news from Capitol Hill: Stimulus Dollars Available for Hemp Farmers and Small Businesses Moments ago, the U.S. House passed the U.S. Senate’s $2 trillion economic stimulus bill, sending to the President’s desk a relief package that will help address the devastating physical and financial distress caused by the COVID-19 virus and response.  Read the entire bill here. There is great news for hemp farmers as well as small businesses in the hemp space.  While the word “hemp” does not appear in the bill, economic relief is available for the hemp industry through some of the following provisions: $349 billion for the Small Business Administration’s (SBA) Business Loans Program Account $17 billion for the SBA’s Business Loans Program Account for payment of covered loans guaranteed by SBA under the Small Business Act $10 billion for SBA’s Emergency Economic Injury Disaster Loans program $265 million for SBA’s Entrepreneurial Development Program $9.5 billion to the Secretary of the U.S. Department of Agriculture (USDA) for providing support for impacted agricultural producers, including producers of specialty crops $20.5 million to the Rural Business Program Account for the cost of loans for rural business development programs under the Farm and Rural Development Act In general, those with federally-backed mortgaged loans secured by USDA may request forbearance for up to 180 days, during which no fees, penalties, or interest will accrue It is important to note that under this SBA policy guidance, unlike direct marijuana businesses, legal hemp small businesses are explicitly eligible for SBA’s assistance programs. Information about how to apply for SBA’s COVID-19 programs can be found here and here. The USDA is expected to release more information about how farmers and businesses can apply for that agency’s COVID-19 programs at this website in the coming days. We will keep Hemp Supporters updated as circumstances develop.  Please stay safe and healthy! SOURCE: RECEIVED BY EMAIL ON FRIDAY 3-27-20

Acting Secretary Chad Wolf Statement on the REAL ID Enforcement Deadline

“Due to circumstances resulting from the COVID-19 pandemic and the national emergency declaration, the Department of Homeland Security, as directed by President Donald J. Trump, is extending the REAL ID enforcement deadline beyond the current October 1, 2020 deadline. I have determined that states require a twelve-month delay and that the new deadline for REAL ID enforcement is October 1, 2021. DHS will publish a notice of the new deadline in the Federal Register in the coming days. “The federal, state and local response to the spread of the Coronavirus here in the United States necessitates a delay in this deadline. Our state and local partners are working tirelessly with the Administration to flatten the curve and, therefore, we want to remove any impediments to response and recovery efforts. States across the country are temporarily closing or restricting access to DMVs. This action will preclude millions of people from applying for and receiving their REAL ID. Extending the deadline will also allow the Department to work with Congress to implement needed changes to expedite the issuance of REAL IDs once the current health crisis concludes. “Protecting both the health and national security of the American people continues to be the top priority for the President of the United States and the Department of Homeland Security.”

# # # INFORMATION RECEIVED VIA EMAIL    U.S. Department of Homeland Security <departmentofhomelandsecurity@messages.dhs.gov>