Cannabis microbusinesses provisions modifications

Minnesota Senate File 1449 amends the state's cannabis microbusiness loan program to increase the maximum state contribution from $50,000 to $75,000 (or $150,000 to $200,000 with matching private investment). It allows nonprofit lenders to retain loan interest payments and origination fees to cover their operational costs, requires them to report average interest rates biannually, and shortens the commissioner's loan approval timeline to 30 days. The bill directly affects cannabis microbusinesses - especially those owned by social equity applicants in qualifying communities - and nonprofit lenders administering the program. Key changes streamline funding access, provide lenders flexibility for expenses, and mandate transparency through public interest rate reporting.