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BDC: STILL NO JOY

The federal Business Development Bank of Canada (BDC) continues to refuse to do business with any Canadian companies that work directly with the cannabis plant. Inside the Jar

  • In a letter to a client, the bank said, “Businesses supporting the cannabis industry that do not own or physically handle cannabis are eligible for services from BDC. More specifically, general contractors, equipment manufacturers, horticultural and other equipment/product suppliers are eligible.
  • “For now, businesses cultivating or selling cannabis (medical or recreational) are ineligible for BDC financing. This includes activities such as cultivation, production, testing, processing, transformation, packaging, distribution, import/export, or selling (wholesale or retail).”

 

Last June, the bank said it would not fund businesses “involved in the transformation, cultivation and production of cannabis,” though they said they would “review [their] position over time based on industry developments.” Twitter—BDC  

 

Quick Hits

  1. Conservative leadership candidate Peter MacKay may not agree with legalization, but he’s not going to repeal it. He’d wants you to know he thinks the Liberals did it terribly, though. Inside the Jar, CBC Politics
  2. As of the beginning of February, the parole board of Canada said 343 of the 500,000 Canadians with criminal records for cannabis possession have applied to have their records suspended. Only 196 of the applications have been accepted. Press Progress, La Presse—In French