The U.S. Small Business Administration (SBA) blocked companies that derive revenue from “marijuana-related activities” from claiming federal COVID relief funds. But Ignite isn’t the only cannabis-sector company to have received them.
- Loan recipients included high-profile California brand Caliva, which received between $2M and $5M. Caliva declined to comment.
- Law360 also found Akerna (the tech company formerly known as MJFreeway) received a loan, as did its competitor Metrc, which said it returned the money. Akerna didn’t respond to a request for comment.
- Arcview received between $150,000 and $350,000. The investor network didn’t respond to a request for comment.
- Government data says payments company Hypur received a loan, but the company denied it.
- Anne Holland Ventures, publisher of MJBiz, received a loan, as did beleaguered social network MassRoots. Asked for comment, both said they don’t touch the plant.
- According to Vicente Sederberg founding partner Josh Kappel, it’s “unclear” where to draw the line on eligibility for marijuana-involved companies. Hemp companies appear largely to be eligible.