- $10 billion for Small Business Administration crisis endowments, with a potential of $10 million in crisis aid per company.
- Around $50 billion in borrowing authority to the U.S. Department of Agriculture’s Commodity Credit Corp. (CCC).
- $100 million in funding to expand internet connectivity in underserved areas.
Continue Reading to Learn More About the New Coronavirus Stimulus Package…The law also establishes a $454 billion platform for subsidized loans to larger sectors in hopes of leveraging a potential $4.5 trillion in financing to distressed companies. Many hemp entrepreneurs are celebrating the stimulus package as good news for business overall. However, some argue Congress left certain things out that would’ve helped business. Some circulated a petition calling for Congress to utilize the coronavirus package to improve the hemp industry by:
- Including the “SAFE Banking Act” which would allow CBD Hemp companies to get bank loans.
- Shifting the Internal Revenue Service (IRS) tax code to permit individuals to make use of money in tax-shielded health savings accounts or flexible spending accounts to purchase hemp and CBD legally.
- Shifting dietary nutritional supplements laws to permit over-the-counter CBD commerce.