Banking, Finance & Real Estate Archives - Page 4 of 38 - Cannabis Business Executive - Cannabis and Marijuana industry news

Skin in the Game: The Diversified Lending of Pelorus Capital Group

June 27, 2023
Tom Hymes
Banking, Finance & Real Estate, Company Stories, News & Insights
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A major player in cannabis commercial real estate lending, Newport Beach, California-based Pelorus Capital Group was founded in 2010 by high school buddies turned business partners Dan Leimel and Rob Sechrist, who today serve as CEO and President of the…

Lawmakers reintroduce SAFE Banking Act, a bill the cannabis industry hails as a lifeline

A group of bipartisan lawmakers reintroduced the Secure and Fair Enforcement (SAFE) Banking Act in the House and Senate on Wednesday, after the legislation designed to free up banking services for the cannabis industry stalled in last year’s Congress. The bill,…

How Regtech Is Simplifying Cannabis Compliance

April 19, 2023
Marion Mariathasan
Banking, Finance & Real Estate, Compliance, Compliance and Regulations, Insurance, Op-Ed, Science and Technology
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By Marion Mariathasan There is no doubt that 2023 has been a bumpy start for many in the cannabis sector. A bear market is obliterating company valuations. Federal reforms are moving at a glacially slow pace. Inflation continues to choke…

Negotiating a Lease for Your Cannabusiness

By Stacey C. Tyler, Esq. and Stephen Tanico, Esq. Finding a suitable location and obtaining site control for your cannabis operation is a daunting prospect: local restrictions and zoning laws drastically limit the permissible locations, and as a result, owners…

High & Dry: Banking crisis to further choke funding for cannabis sector

March 24 (Reuters) - The global banking turmoil threatens to squeeze U.S. cannabis companies already struggling with meager funding sources by drying up support from regional lenders and tightening fundraising from alternative avenues. Most U.S. banks do not service cannabis…

Are 504 Private Placement Security Offerings Allowed in Cannabis Businesses?

By Jack Scrantom & Jonathan Bench, Attorneys at Harris Bricken We’ve written regularly about the plight of cannabis businesses not being able to secure traditional lending (and other financial services) from major, federally regulated institutions. In this post, we dive…

Banking Failures Are Hitting Weed Companies, Too

Industry is uncertain whether its deposits are FDIC-insured, Risks seen for pot accounts and banking legislative prospects Crypto isn’t the only edgy new industry being roiled by the collapse of several banks. US companies that deal directly with cannabis, a federally…

Paybotic Is Quietly Building a Financial Services Ecosystem for the Cannabis Industry

February 20, 2023
Tom Hymes
Banking, Finance & Real Estate, Company Stories, News & Insights
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Based in West Palm Beach, Florida, where it recently celebrated the relocation of its corporate headquarters, financial services provider Paybotic has been focused on the cannabis and hemp industries since 2013, when it serviced its first cannabis merchants in Colorado’s…

Should Cannabis Operators Prepare for Federalization in 2023? Not so fast…

February 8, 2023
Dave McManus
Accounting, Banking, Finance & Real Estate, Multiple State Operators
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The Administration took bold steps last year that signaled an openness to federalizing cannabis. Plenty of speculation has followed, and it seems clear that the federal market could open soon. My perspective is that 2023 is not the year, and…

Moonstone No More: Alameda-backed Bank Will No Longer Service Crypto/Cannabis Industries

January 31, 2023
Tom Hymes
Banking, Finance & Real Estate, News & Insights
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Following the seizure of bank accounts by federal prosecutors tracking down assets held by fallen FTX founder Sam Bankman-Fried and others, Farmington State Bank, the tiny Washington state institution that received a $11.5 million investment in March from FTX offshore…

The SAFE Banking Act’s Potential Impact On The Marijuana Industry

The Secure and Fair Enforcement (SAFE) Banking Act, a proposed legislation aimed at allowing banks to do business with companies operating legally within states that have legalized marijuana, had the potential to change the way the marijuana industry operates. Despite…

FundCanna Goes Where Banks Fear to Tread

January 17, 2023
Tom Hymes
Banking, Finance & Real Estate, News & Insights, Spotlight
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Founded in 2021, Solana Beach, California-based FundCanna offers a growing repertoire of financial products to cannabis businesses in need of funds. Specializing in loans that target small to medium-sized businesses, but also able to meet the needs of larger companies,…

Cannabis Security Interests: Dos and Don’ts

By Hilary Bricken Principal at Harris Bricken I previously wrote about how the cannabis industry should prepare itself for tough financial times. Capital is increasingly hard to come by unless you find yourself in a newly launched state like New…

Financial Giant Euroclear Announces Plans To Stop Supporting ‘Cannabis-Related Stocks’

EUROCLEAR, one of the world’s largest financial clearing houses which serves 90% of the world’s 50 largest banks, has informed investors that it will ‘no longer support international cannabis-related stocks’ from January 2023. The move has left swathes of UK…

Weed’s Workaround to the Banking System Is Getting Shut Down

Systems that took bank cards at dispensaries are affected, The technique had moved $7 billion around the banking system Marijuana shops across the US are rushing to find alternative ways for customers to pay after networks that supported a popular workaround…