Denver Mayor Proposes Cannabis Loan Fund for Minority Investors

The mayor of Denver, Colorado, wants to direct a portion of marijuana sales tax revenue toward a new $50 million loan fund to help minority investors join the city’s recreational cannabis industry. Mayor Michael Hancock’s proposal also includes working with the financial industry. Recreational marijuana sales commenced in Colorado on Jan. 1, 2014. “History exposes an amazing imbalance when it comes to this industry,” Hancock said in his annual state of the city address. “Many…