USDA unveils guidelines for Federal loans to hemp business
Borrowers who are not licensed to grow hemp will be considered in non-monetary default and any losses will not be covered … [Also] hemp that contains more than 0.3 percent THC must be disposed of under the department’s rules.
“While it’s understood that this new commodity will likely produce some servicing challenges because of State and Federal regulations, it should be treated as closely as possible to any other agricultural commodity and serviced in the same manner,” the memo states. “Hemp will be considered like any other borrower produced commodity, if the hemp was produced under a license authorized by the 2014 or 2018 farm bills, and provided the crop is not abandoned or destroyed.”
Original Article (Marijuana Moment):
USDA unveils guidelines for federal loans to hemp business
Artwork Fair Use: Jungbim