Here at Hard Money Loans GLHF, we make the financial value of taking advantage of the opportunities offered by cannabis.
Why Cannabis Loans Are So Hard to Come By
Cannabis loans are so tricky for one main reason: Although cannabis is legal on the state-level for many states, on the federal level, it’s still strictly illegal. As a result, federal banking regulations surrounding cannabis businesses consider control all cannabis-adjacent capital as money. As of September 2018, only 486 depository institutions banks and credit unions were actively functioning with cannabis businesses in the US.
But, within states that have legalized medical and adult-use recreational cannabis, local financial institutions are certainly getting more creative then large, national banks are.
Cannabis loans are currently pretty unclear territory. And though more and more local banks are finding ways to offer financial services: like checking and savings accounts to cannabis businesses, cannabis loans are still hard to get a pin in. Since providing cannabis business loans is still technically illegal on a federal level, it’s not a widely-documented practice. If federal laws loosen towards cannabis capital as they might soon, thanks to a bill we’ll cover later then cannabis loans will be more broadly available and more effectively marketed.
Hard Money Loans GLHF wants to assist you find your slice of success in this booming industry by giving you with the lending solution you need to purchase industrial properties appropriate for leasing to cannabis cultivators.
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