The cannabidiol industry has come a long way since its early days. It was an exciting time, the 2018 Farm Bill had just legalized the cultivation and sale of industrial hemp and its extracts, including CBD. The market was wide open and full of endless possibilities, but the early birds quickly ran into a variety of issues. One of the biggest ones was the lack of access to banking and insurance services.
Due to the industry’s state of uncertainty, these service providers were wary of hemp and CBD businesses, afraid of the consequences of transacting with what they thought were illegal enterprises. Thus, businesses were forced to find alternative ways to get loans and process payments, all while shouldering…
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