Many financial institutions bank cannabis companies whether they know it or not. Although approximately 250 banks and credit unions purposively support cannabis banking, it is a consistent topic of conversation in most board rooms today as legislation evolves and the industry continues to grow. With retail sales exceeding $33B in 2023, the market opportunity is becoming harder for bankers to ignore.Having previously manufactured CBD for export to more than 15 countries abroad, I learned first-hand the difficulty of accessing banking. In conversations with almost 7,000 financial institutions, I am surprised by the confusion and lack of understanding that most people have about this space.The cannabis industry is greatly underserved from a banking perspective, so opportunities abound. We would be pleased to be a resource if and as you are contemplating launching a cannabis banking portfolio. For more information, please visit www.ShieldBanking.com or call me at 859.595.6440.
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