We, the undersigned, call on all financial institutions, including Crown corporations like the Business Development Bank of Canada (BDC), to provide fair and equitable access to financial services for licensed cannabis businesses.

Despite the legalization of cannabis in Canada and the rigorous regulatory framework that governs our industry, licensed cannabis businesses face unjust discrimination from financial institutions. These institutions refuse to provide loans, lines of credit, and other essential financial services to businesses engaged in cultivation and processing, despite our flawless records of compliance and financial responsibility.

Discrimination and Unfair Practices:

Licensed cannabis businesses are systematically denied financial services that are readily available to other industries, stifling our growth and innovation.

This exclusion not only hampers the success of individual businesses but also negatively impacts the broader economy by limiting job creation and economic contributions from a legal and regulated industry. Cannabis businesses are already subject to significant regulatory fees and compliance costs. The additional barrier of financial discrimination exacerbates these challenges, creating an uneven playing field.

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We demand that all financial institutions, including Crown corporations like the BDC, adopt policies that:

Provide Fair Assessments: Assess loan applications from cannabis businesses based on financial health and creditworthiness, rather than industry bias.

Ensure Equal Access: Offer the same financial products and services to licensed cannabis businesses as those provided to other legal industries.

Promote Transparency: Clearly communicate the criteria used for loan decisions and ensure they are applied consistently across all industries.
Why It Matters:

Fair access to financial services is crucial for the sustainability and growth of the legal cannabis industry. By supporting licensed cannabis businesses, financial institutions can contribute to a thriving, innovative sector that generates significant economic benefits and fosters community development.

Join Us:

Sign this petition to urge financial institutions and Crown corporations like the BDC to end discriminatory practices and provide equal financial opportunities to licensed cannabis businesses. Together, we can ensure a fair and prosperous future for our industry.