Photo Credit: Got Credit
Although many entrepreneurs are rushing to take advantage of the budding marijuana industry, bankers, seem to be a bit more wary. With such little historical data on which to make market predictions, and with the industry still operating illegally in the eyes of the federal government, most big banks view the marijuana industry as an overly risky investment and a potential liability.
Smaller, local banks, however, see promise in the industry, and believe that today’s risk might become tomorrow’s big break. You can be certain that as soon as the marijuana industry can come up with solutions to legitimately monitor and track cash transactions, and as soon as the federal government realizes that it can make money by taxing legal marijuana sales rather than lose money by fighting it, banks will start opening their doors to cannabis industry businesses and entrepreneurs. The marijuana industry is already one of the fastest growing industries in the country. Imagine how big it will get once the federal government and big banks get on board.
Read the full article here.
Comments will be approved before showing up.
Liquid error: Could not find asset snippets/mailchimp-popup.liquid