/  Posts tagged "banking"

It’s unclear what types of cannabis companies were eligible for PPP money and the picture gets foggier in the list of recipients released by the The U.S. Treasury. Marijuana-related companies were thought to be off-limits, yet celebrity backed dispensaries appear to have received help. What's less clear is the eligibility of businesses that serve the cannabis industry, or provide services to it without actually touching the plant. Businesses that "derive revenue from marijuana-related activities or that support the end-use of marijuana" are

Square has launched a program to process credit card payments for CBD businesses. With the movement to provide banking to cannabis on the state and federal level, the company is positioning itself to service the cannabis industry. Yet, Square is moving quietly with discretion. “Square is currently conducting an invite-only beta for some CBD products,” a spokesperson for the company said in an email. (Source: Forbes.com) Square, and others like PayPal and Stripe have held a policy to turn away cannabis related businesses. They