To Be Blunt: The Ins and Outs of Cannabis Related Banking
Lending to and banking cannabis-related businesses is currently a hot topic among banking circles. With laws varying by state and the inherent risks associated with providing these services, many banks and credit unions are weighing whether to participate themselves. Ultimately, each institution will vary in its approach. However, there is no denying that this is a 'budding' industry that deserves serious consideration as a viable way to reach revenue goals.
In this podcast, we discuss:
- The definitions of common terms and the specific laws that go along with them
- Direct vs. indirect cannabis lending and the associated risks
- How this type of lending can be a crucial revenue source for your FI