VIDEO: Congressman Troy Carter Advocates for Level Playing Field for Marijuana Businesses at National Cannabis Conference

CHICAGO, IL. — Yesterday, Congressman Troy A. Carter, Sr. presented to the Benzinga National Conference on his legislation the Cannabis Lending and Investment in Marijuana Businesses Act – better known as the CLIMB Act.

The CLIMB Act would allow cannabis companies the ability to access critical lending and investment opportunities by offering protections to financial lenders and government agencies tasked with promoting economic growth. Congressman Carter introduced the bipartisan legislation with Representative Guy Reschenthaler (R-Pa.) in June this year.

Carter outlined the proposed legislation, which goes beyond what the SAFE Banking Act can provide, Tuesday at Benzinga's Cannabis Capital Conference in Chicago.

“SAFE Banking is obviously a strong tool, and the CLIMB Act augments that critical proposal to create yet another opportunity to achieve safe harbor for business owners to access capital and thrive in the cannabis industry,” said Congressman Carter. “By clarifying what historically has been a little bit of a gray area, we can boost our economy and help not just license businesses, but allow them to access the capital they need to stand up businesses on their own two feet and allow them to thrive.”

Along with providing access to capital, a critical barrier for business owners from historically marginalized communities, the CLIMB Act would also permit public agencies to provide financial support to the cannabis industry, such as the Small Business Administration (SBA). It would also provide access to the American public capital markets.

Video footage of the Congressman’s presentation at the conference is available here.

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