CANNABIS IN THE TIME OF COVID: A SMALL BUSINESS BANKING EMERGENCY 

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CANNABIS IN THE TIME OF COVID : A SMALL BUSINESS BANKING EMERGENCY

  • So Jene Kim and Olivia Markbreiter
  • Published: 14 April 2020


It is a time of international turmoil, and the banking industry is rushing to assist those struggling to stay afloat. While airlines, retailers, and restaurants are receiving much-needed aid, one sector that supports more than 211,000 full-time jobs has been excluded from COVID-19 federal aid: Cannabis.

For many, COVID-19 marks the start of a ‘new normal.’ In the following, we offer three trends on how Cannabis Banking has reached a long-awaited turning point, and four recommendations for Community Banks to meet this critical small business banking opportunity.