Cannabis is currently legal for adult recreational use in 10+ states and the District of Columbia and for medical use in 30+ states. As more states legalize marijuana for medical and/or recreational use, it’s critically important that marijuana-related businesses have access to traditional banking services.
Without these basic business services, running and operating cannabis-related operations can be extremely difficult and unsafe.
According to Forbes, these are some of the consequences of lacking a traditional business banking system for the marijuana industry.
“Without banks, state-compliant cannabis businesses can’t accept credit cards, acquire loans, set up deposit accounts, write checks, run payroll or pay taxes. All this currently enables money-laundering, presents a safety hazard, and prohibits the U.S. from keeping pace with nearly all of its neighbors in the Western Hemisphere in the new commercial global cannabis economy.”
Need help navigating marijuana business banking? Need corporate counsel? Request a consultation now.
Below are marijuana friendly business banking options in Michigan.
Marijuana Business Banking in Michigan
These forward thinking banks pride themselves on being part of the next generation of banking and supporting the growing marijuana business industry.
Please Note: If you’re aware of additional marijuana banking institutions in Michigan, or you’re with a bank and are interested in learning more about what’s involved in supporting the exploding cannabis industry in Michigan, please contact us immediately.
Not only is offering these services to the massive number of cannabis-related businesses in Michigan good for your business, it’s also good for the state in terms of new jobs and new revenue streams.
Contact us now if you fall into one of these categories.
368 S. Park Street, Mason, MI 48854 (517) 676-3661
Hours: Mon – Fri: 9:00 AM – 5:00 PM Sat: 10:00 AM – 12:00 PM
34200 Utica Rd Fraser, MI 48026 (586) 268-3720
Hours: Mon – Thurs: 9:30 AM to 5:00 PM Fri: 9:00 AM to 6:00 PM
580 N Main St Frankenmuth, MI 48734 (989) 497 – 1600
Hours: Mon – Wed, Fri: 7:30 AM – 6:30 PM Thurs: 9:15 AM – 6:30 PM, Sat: 9:00 AM – 12:30 PM
115 Riverside Drive Battle Creek, MI 49015 (800) 648-8035
Hours: Mon – Friday: 9:00 AM – 5:00 PM