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Fintech Partnership Will Offer Lending and Financial Services to Cannabis Operators

Fintech Partnership Will Offer Lending and Financial Services to Cannabis Operators

 Bespoke Financial, the first Fintech lender in the country providing debt financing to cannabis companies, today announced its strategic partnership with PayQwick, the cannabis industry’s most comprehensive treasury and financial services platform. The partnership provides a compliant one-stop-shop for cannabis businesses to access Bespoke’s lending products and PayQwick’s invoicing, electronic bill pay, armored car cash pick-up, wire transfers and other financial services. The lack of access to traditional financial services including deposit accounts and lines of credit has been a major roadblock in the early years of the cannabis industry. This partnership enables Bespoke’s clients to seamlessly access preferred deposit fees in addition to free money transfers to mutual Bespoke and PayQwick customers via the PayQwick platform. In return, PayQwick clients receive priority access to qualify for lines of credit with Bespoke based on the underwriting and due diligence processes cannabis operators currently abide by. The platform is currently available to cannabis businesses operating in Arizona, California, Colorado, Florida, Illinois,, Massachusetts, Michigan, Oregon, and Washington – with more U.S. markets to come.

Published Ncv Newswire, New Cannabis Ventures, 04/21/2022 08:45:00

Open article: https://www.newcannabisventures.com/fintech-partnership-will-offer-lending-and-financial-services-to-cannabis-operators/

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Why New Jersey isn’t starting legal marijuana sales on 4/20

Why New Jersey isn’t starting legal marijuana sales on 4/20

When the New Jersey Cannabis Regulatory Commission announced the start date for recreational marijuana sales in the Garden State last week, you could almost hear the collective frustrated sigh of thousands of cannabis consumers: Why not 4/20? So close, yet so far. New Jersey will start adult-use cannabis sales Thursday — just one day after the unofficial marijuana holiday of 4/20. Adult marijuana users will be able to purchase up to an ounce of cannabis at dispensaries, without a medical marijuana card. With that, any hopes of lighting up in celebration on 4/20 with legal weed were stubbed out like a spent joint on the pavement on the lot at a Camden Phish show. And all because of logistical concerns, a CRC spokesperson told The Inquirer. “Selecting 4/20 for the opening day would have presented unmanageable logistical challenges for patients and other buyers, surrounding communities, and for municipalities,” said Toni-Anne Blake, communications director for the CRC.

Cannabis Business Executive – Cannabis and Marijuana industry news, 04/20/2022 09:03:00

Open article: https://www.cannabisbusinessexecutive.com/2022/04/why-new-jersey-isnt-starting-legal-marijuana-sales-on-4-20/

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Minnesota Hemp License Applications to Close April 30

Minnesota Hemp License Applications to Close April 30

Minnesota growers or processors looking to cultivate hemp for the 2022 growing season must apply for a license through the Minnesota Department of Agriculture (MDA) by April 30. In addition to the application, first-time applicants must undergo a background check and submit fingerprints. Individuals growing on tribal reservations that do not have an approved hemp plant must obtain a license from the tribe or USDA. According to Echo Press, growers and processors can also expect some changes to the 2022 program, which include: The fee for testing THC per grower sample has been reduced from $125 to $100; growers will now be charged for the first sample collected; the MDA will now begin to inspect processor locations; and the minimum cost of a processing license is $500, $250 for the license fee and $250 for the location.

Posted Melissa Schiller, Cannabis Business Times, 04/20/2022 12:47:00

Open article: http://www.cannabisbusinesstimes.com/article/minnesota-hemp-license-applications-close-april-30

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Louisiana House Committee Advances Legislation to Expand Medical Cannabis Access

Louisiana House Committee Advances Legislation to Expand Medical Cannabis Access

The Louisiana House Health and Welfare Committee advanced legislation on April 19 to expand medical cannabis access in the state. The committee approved Rep. Joe Marino’s House Bill 758, which would expand the number of medical cannabis pharmacy licenses in the state from 10 to 25, according to the Associated Press. The legislation would set aside 30% of the new licenses for minority- and women-owned businesses, the news outlet reported. H.B. 758 would also give preference to Louisiana pharmacists for the new licenses, according to a News Star report. A separate proposal from Marino, House Bill 135, would allow patients from other states to access medical cannabis at Louisiana’s pharmacies, the news outlet reported. H.B. 135 would also transfer medical cannabis regulation from the Louisiana Department of Agriculture to the Department of Health and add the University of Louisiana at Monroe to the list of institutions that can research medical cannabis, according to the News-Star.

Posted Melissa Schiller, Cannabis Business Times, 04/20/2022 12:13:00

Open article: http://www.cannabisbusinesstimes.com/article/louisiana-house-committee-advances-legislation-to-expand-medical-cannabis-access

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American Marijuana Consumers See Investment Opportunities in European Cannabis Sector

American Marijuana Consumers See Investment Opportunities in European Cannabis Sector

According to a survey conducted by Bloomwell Group, a medical cannabis holding company, consumers of marijuana in the United States believe that the widely anticipated legalization of recreational cannabis in Germany will create great opportunities for investment, travel and trade. The survey found that 80% of American cannabis consumers were convinced that great investment opportunities exist in marijuana companies. Six in ten individuals surveyed also revealed that they would invest in European-based marijuana stocks. The new coalition government in Germany made up of the SDP party, the Greens, and the FDP party announced last year that adult-use marijuana would be legalized and sold in licensed outlets. Although no definitive schedule for this legalization was given, the news has created massive excitement because of its ramifications for the cannabis industry in Germany (where medical marijuana is already legal) and the broader European Union block. It is expected that once Germany opens its cannabis market fully, there will be a domino effect of legalizations in other countries in mainland Europe.

CannabisNewsWire, 04/21/2022 04:20:00

Open article: https://www.cannabisnewswire.com/420-with-cnw-american-marijuana-consumers-see-investment-opportunities-in-european-cannabis-sector/

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Ohio Lawmakers Introduce Citizen Cannabis Bill That Competes With Their Own Adult-Use Bill

Ohio Lawmakers Introduce Citizen Cannabis Bill That Competes With Their Own Adult-Use Bill

Ohio state Reps. Casey Weinstein, D-Hudson, and Terrence Upchurch, D-Cleveland, are already sponsoring an adult-use legalization bill, but that didn’t stop them from filing similar legislation on behalf of those whom they represent. The northeast Ohio Democratic duo filed bill language on April 20 to formally introduce the initiated statute sponsored by the Coalition to Regulate Marijuana Like Alcohol (CRMLA), a citizen-led effort that met a 132,877-signature threshold to put its petition before state lawmakers, the Ohio Secretary of State announced on Jan. 28. The coalition’s proposed statute seeks to allow adults 21 and older to buy and possess up to 2.5 ounces of cannabis (or 15 grams of extract) and grow up to six plants per person or 12 plants per household. In addition, the proposal aims to impose a 10% tax on cannabis sales, with revenue going toward state costs to run a legalized program; substance abuse and addiction treatment programs; supporting municipalities with dispensaries, and social equity and jobs programs.

Cannabis Business Times, 04/20/2022 16:40:00

Open article: http://www.cannabisbusinesstimes.com/article/ohio-lawmakers-bill-coalition-regulate-marijuana-alcohol-petition

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