You are here
Home 🌿 Marijuana Business News 🌿 In Legal Weed Industry, Solutions For Lack Of Banking Access May Lie in Building Relationships 🌿In Legal Weed Industry, Solutions For Lack Of Banking Access May Lie in Building Relationships
CHICAGO -- In any business, personal relationships often are the key. In the marijuana business, that could be even truer, especially when it comes to banking needs.
Marijuana largely is an all-cash business. Banks are skittish because growing and selling marijuana still is illegal under federal law, which classifies cannabis as a Schedule I drug. But some store owners and others in the marijuana business who have had pre-existing relationships, especially at small community institutions, have been able to convince bankers to work with them, said Chris Walsh, managing editor of Marijuana Business Daily, which sponsored the Marijuana Business Conference and Expo here May 19-21.
Meg Sanders, CEO of Mindful, a cannabis-centered operation based in Denver, said community involvement is extremely important as well. "We call it doing well by doing good. ... We don't go where they don't want us," Sanders said while conducting a crash course on the...
This marijuana news is brought to you by 420 Intel. For the latest breaking cannabis industry news, subscribe to the 420 Intel newsletter. If you'd like to promote your product or service in this area after every article, contact us.
420 Intel is Your Source for Marijuana News
420 Intel Canada is your leading news source for the Canadian cannabis industry. Get the latest updates on Canadian cannabis stocks and developments on how Canada continues to be a major player in the worldwide recreational and medical cannabis industry.
420 Intel Canada is the Canadian Industry news outlet that will keep you updated on how these Canadian developments in recreational and medical marijuana will impact the country and the world. Our commitment is to bring you the most important cannabis news stories from across Canada every day of the week.
Marijuana industry news is a constant endeavor with new developments each day. For marijuana news across the True North, 420 Intel Canada promises to bring you quality, Canadian, cannabis industry news.
You can get 420 Intel news delivered directly to your inbox by signing up for our daily marijuana news, ensuring you’re always kept up to date on the ever-changing cannabis industry. To stay even better informed about marijuana legalization news follow us on Twitter, Facebook and LinkedIn.
Follow us on Instagram
Connect with us on Linkedin