With CBF you can apply to access the funds you need to jump-start or expand your cannabis business

For years, lending has been the biggest perceived “no go zone” for banks working with the cannabis industry, making the service even more difficult to find that cannabis banking or merchant processing. Even though there are banks that will accept clients for business checking or merchant processing, far fewer will open their doors to cannabis industry borrowers. This is because:

Risk of seizure:

Banks are concerned with the current US Federal legal position towards cannabis. If a lender has any US operations or is planning on having a US business arm in the future they can be open to US Federal charges.

Stigma:

Perhaps most arbitrary of these concerns, many in the financial world still see the cannabis industry as an unsavory one. They are simply unwilling to work with an industry that they perceive poorly.

How these cannabis lending issues affect borrowers

Unsurprisingly, the shortage of banks willing to lend to the cannabis industry has made it extremely difficult for borrowers to access desperately needed capital. This is especially important for those applying for a license, as many provinces require applicants to demonstrate money in the bank to be considered for a coveted cultivation, processing, dispensing, or delivery license