n a major boost for the fledgling medicinal cannabis industry, the Barbados Medicinal Cannabis Licensing Authority (BMCLA) has partnered with Trust Loans Fund Barbados to overcome the financial hurdles hampering the sector's growth.
The move aims to provide crucial startup capital to approved license holders who have been struggling to secure loans from traditional lending agencies.
BMCLA communications and public education specialist Tracy Moore told Barbados TODAY on Friday that approved licence holders were experiencing significant roadblocks in developing their businesses because lending agencies were refusing to loan them much-needed startup capital.
Last October, the Acting Chief Executive Officer of the BMCLA, Shanika Roberts-Odle announced that the new industry was already under great strain because of the lack of access to domestic and international funding, and the inability for businesses to open accounts or transfer funds.
Read more at Barbados Today