The latest news about CBD related to COVID-19 are here:
- A warning letter is sent to the CBD company of retired NFL player Kyle Turley for making COVID-19 related unauthorized claims about CBD.
- Hemp businesses can get financial aid from the COVID-19 stimulus bill.
- Kristi Noem, the governor of South Dakota, has signed a bill into law that authorizes CBD and hemp, as well as hemp production program is established in the state.
Latest CBD News
- FDA Warns EX-NFL Player to Stop Making Claims About CBD Related To COVID-19
- Hemp Businesses Are Eligible for COVID-19 Relief Fund
- Hemp Legalization Bill Is Signed By The Governor Of South Dakota
FDA Warns Ex-NFL Player To Stop Making Claims About CBD Related To COVID-19
FDA has sent a warning letter to Neuro XPF, the CBD company owned by retired NFL player Kyle Turley, for making claims about CBD associated with COVID-19.
The FDA said in its letter that Neuro XPF made claims regarding products that “fallaciously characterizing them as effective for the treatment of COVID-19.”
FDA exemplified the following statement on their website, “We want everyone to take CBD and get benefit of its power to make your body able to fight a coronavirus infection.”
Another example of the claim made by Neuro XPF’s on their social media accounts: “Crush Corona! Your best defense against the COVID-19 blitz starts with a strong immune system.”
Time of 48 hours was given by the FDA to Neuro XPF to preview its “product labels, and other labeling, websites, and promotional materials,” and to email the correction they have made.
FDA wrote that legal actions would be taken in case of failure to correct the violations mentioned in the letter.
Neuro XPF is now among the companies that have received warning letter from the FDA regarding “Fraudulent Products about COVID-19.”
Turley—a retired offensive lineman who played for the New Orleans Saints, St. Louis Rams, and Kansas City Chiefs for more than eight seasons—displayed a copy of the response letter to FDA by his company on Twitter.
In the response letter, it is stated by the Neuro XPF that all written and visual references to their “Crush Corona” educational and promotional campaign have been removed from the social media sites and neuroxpf.com.
However, it is also acknowledged by the FDA that they have not authorized any vaccine or product as a therapy for “this life-threatening virus.”
However, Neuro XPF also said, “we believe that our products are not illegal and that neither Neuro XPF educational, marketing or promotional content nor our campaign makes any claim that they diagnose, alleviate, or treat COVID-19 infection.”
Personally, Turley has been straightforward about his opinions on cannabis, CBD, and COVID-19.
On March 8, It was tweeted by Turley, “CBD CAN PREVENT AND CURE THE CORONA VIRUS!”
Later on March 31, It was tweeted by Turley, “The [FDA] will one day acknowledge the power of cannabis and its ability to prevent & cure COVID19 and every other disease.”
Hemp Businesses Are Eligible For COVID-19 Relief Fund
On last Wednesday, March 25, Coronavirus Aid, Relief and Economic Security (CARES) Act was signed into law, the Hemp farmers and businesses may be eligible to get advantage from it.
Small businesses, with less than 500 employees, get $350 billion through this law.
According to the Hemp Grower, some of the details about the Paycheck Protection Program are here:
- If employers manage their payroll during the financing period, loans may be forgiven partially. The borrowers must submit an application for verification of payments to seek forgiveness.
- The companies with the establishment before 2019 will get a limited loan of $10 million. However, others the limit is 2.5 times the average amount of income costs over a year.
- Small businesses can apply for loans to finance costs related to the continuation of healthcare benefits, payroll costs and salaries, mortgage or rent payments, utilities and interest on other debt sustained before February 15 of this year. A certification must be provided by the borrower to show the purpose for which money is used for.
- The financing period is between February 15 and June 30.
- An existing SBA 7 like (a) lender or any federally insured depository institution, federally insured credit union, and participating Farm Credit System institution is necessary to apply for a loan. You should discuss with your local lender to see if it is taking part in the program.
- A sample application form is available online.
- Loans will be available from April 3.
- visit the SBA website for more details.
The amount of $44 billion is granted by the CARES Act for agricultural businesses, including the funds for farmers.
- $20.5 million of lending for the Industry Loan Guarantee Program and USDA Rural Development Business.
- $14 billion to the Commodity Credit Corporation to assistance programs to help agricultural producers.
- $9.5 billion to the U.S. Department of Agriculture (USDA) to provide financial support to ranchers and farmers growing specialty crops.
For more information on loan program, please visit the USDA’s portal for farmers.
We are thankful to Hemp Growers for arranging this information to help hemp farmers and businesses.
Hemp legalization Bill Is Signed By The Governor Of South Dakota
Kristi Noem, The Governor of South Dakota has signed a bill for the legalization of hemp which provides millions in funding to start a hemp production program in the state.
However, Governor Noem is not assured about the continuation of the funding program, keeping in view the COVID-19 pandemic.
In a statement, Noem said, he was signing the bill with one provision — we should come back in June and make substantial changes to both the current budget and next year’s fiscal year budget.
South Dakota must defer its hemp production scheme to the USDA for approval before the start of planting period by farmers.
This week, hemp plans of West Virginia and South Carolina was approved by USDA, bringing the total number of approved states to 14.
