reply
by a lender
3yrs ago
from Eastern Illinois University
in 900 E Diehl Rd, Naperville, IL 60563, USA
Although Cannabis is still illegal on the Federal Level, the FDIC has approved some lenders to provide Cannabis financing, so there are traditional banks providing that financing. However, it is a tightly controlled program. However, the SBA has not approved cannabis for financing via the program, so you cannot do any SBA loan around cannabis. In fact, I had a client who was not directly dealing in cannabis but their priority customers were in the industry, and the SBA (not the lender) denied the loan because of the affiliation.