LauraChambers

The cannabis industry has faced a lot of challenges when it comes to securing reliable financial solutions. The cash vs. digital consumer payments debate probably stands out the most. But instead of focusing on external sales, today we’re going to talk about internal solutions that are also important—like payroll. Compliant [...]

Thanksgiving week is a major retail event across the US—with daily spotlights like Black Friday, Small Business Saturday, and Cyber Monday. Customers spend the week shopping, enticed by flashy holiday deals and discounted gift shopping. But there’s a new event that’s become popular in recent years since it blossomed in 2016 from dispensary sales [...]

Our beloved plant’s medicinal qualities are the origin of its state-by-state legalization. Historically, the origins of medical cannabis can be traced back to 2900 BC, with Chinese Emperor Fu Hsi referring to it as the “yin and yang” of multi-purpose medicine. Today, medicinal cannabis sales have swept the United States--with 39 states allowing medical [...]

Cannabis is still illegal on a federal level, and as of this writing, just 19 states have embraced full legalization, while 19 others have enacted medical marijuana programs.  As a result, the vast majority of U.S. banks view cannabis as high risk and will only consider assuming the risk of working with cannabis-related businesses [...]

Cannabis businesses have it tough, despite record-breaking sales during the pandemic. They often try modernizing typical retail tactics to adhere to a nuanced and heavily regulated industry. There aren’t many chances to save money, and customers demand competitive pricing with the market expanding rapidly. So, we dived into the Employee Retention Tax Credit, an [...]

KYC is a financial term for “Know Your Customer,” a set of standards that bankers use to verify their clients’ identities and securely open their accounts. Since we provide banking solutions for the cannabis industry and next Thursday is Get to Know Your Customers Day, we want to discuss another kind of KYC–getting to [...]