What’s the biggest challenge facing the cannabis industry right now, and how are you and/or your company addressing it?
One of the biggest challenges facing the cannabis industry right now is access to business banking products and solutions, including lending. Salal credit union has been in business since 1948, supporting medical marijuana since 1998, as well as the cannabis industry since recreational legalization in 2014. We service over 20 states with a full suite of business and consumer banking products and services including vehicle/equipment loans, operating lines of credit, commercial real estates loans and home mortgages. Contact us today to learn more.
Where do you see the most exciting opportunity for growth and innovation in cannabis?
Within the cannabis industry there are numerous exciting opportunities for growth and innovation. Regardless of where an entity is in their journey, we look forward to working with them to help them get there.
What’s one piece of advice you would give to someone looking to break into the cannabis industry?
Success in the cannabis industry, like any other, comes from having a good strategic plan up front. Build a team of experts to assist you in that process. That team should include a good cannabis Attorney, cannabis CPA, and cannabis Banker.
What is the most important thing you have learned from your experiences in the cannabis industry?
The most important thing that I have learned in the cannabis industry is that each and every client situation is unique. Working with individuals that take the time to understand those unique aspects is imperative to your ongoing success.
What do you want your legacy to be as it relates to the cannabis industry?
As a member of Salal Credit Union, I strive to make a difference in the lives of the members that we serve. We are proud to empower this vibrant and innovative industry with banking and lending solutions that help cannabis businesses thrive. Since we have been here since the beginning, our level of expertise is second to none.
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