Reported 2 days ago
New cannabis companies encounter significant financial barriers due to the federal illegality of marijuana, which restricts access to traditional banking services and credit. As outlined by Erin Gore, founder of Garden Society, entrepreneurs in this industry struggle with securing loans, retirement plans, and other financial services, impacting their operations and growth. Despite the burgeoning cannabis market, legislative hurdles, like the stalled SAFE Banking Act, continue to pose challenges, forcing business owners to adopt creative financing strategies to ensure sustainability.
Source: YAHOO