Can I borrow from a bank in Massachusetts?
Some local banks and credit unions have begun exploring the idea of lending to cannabis companies in Massachusetts. They are still trying to figure out exactly what they are allowed to do. While the sale of cannabis may be legal at the state level in Massachusetts, the substance is still classified as a Schedule I controlled substance by the FDA, making it illegal on the federal level. That means that most financial institutions, including banks, credit unions, and credit card companies, can’t or won’t work with you on either lending or banking services.
That’s where Bespoke Financial comes in