VT’s Canna-Businesses rely on Credit Unions
“Forbes recently estimated that only 30 percent of the businesses in the country’s legal marijuana sector have bank accounts. Without them, businesses can’t pay employees by check or direct deposit. It can be difficult for weed entrepreneurs to line up companies to process payroll and credit card transactions.
“Just because CBD and cannabis is hot doesn’t mean you can start a company and it’s no big deal,” said Ashley Reynolds, who runs the CBD product business Elmore Mountain Therapeutics. “There’s a lot of red tape.” Read more about how Ashley Reynolds of Elmore Mountain Therapeutics, and other local canna-business owners, deal with banking in the legal market, as covered by Seven Days.