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Senate panel approves technical changes to cannabis small-business loan programs, lowers admin cap
Summary
The Jobs and Economic Development Committee passed Senator Putnam's bill (Senate File 14‑49) as amended, revising loan caps, reporting requirements and administrative allowances for DEED-administered cannabis small-business programs and referred it to the Commerce Committee.
Senate File 14‑49, a policy bill to adjust Minnesota’s cannabis small-business development programs, passed the Senate Jobs and Economic Development Committee on a voice vote and was referred to the Commerce Committee.
The bill, carried by Sen. Scott Putnam, would revise provisions of two programs created following the 2023 cannabis legalization bill — often referred to in committee testimony as the Can Start Up and Can Navigate programs — now administered by the Department of Employment and Economic Development (DEED). Putnam described the measure as “policy only” and said it aims to make technical and operational improvements to those programs while adding “some opportunities for accountability.”
The measure would increase small loan caps for the startup program (from $50,000 to $75,000 for loans without a local match, and from $150,000 to $200,000 when paired with match), tighten DEED review timelines by establishing a 30‑day hard limit for agency review, and expressly permit nonprofit program administrators to retain loan…
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