In a recent press release, HARDCAR announced that it has secured a multi-billion dollar bank. This will allow the company and bank to provide CBD companies with loans and financing for their operations.
This can vastly help cannabis companies. According to the press release, cannabis businesses will be able to secure funding for licensing, facilities, equipment, and whatever else is necessary for them to remain compliant and to continue growing their business.
Todd Kleperis, the CEO of HARDCAR, stated in the press release,
“In the beginning, cannabis banking was only for high-revenue cannabis businesses because banks could justify the larger expense to monitor and process all transactions. Nowadays, banks are accepting smaller businesses and the pace of adoption has radically increased.” He continued,
“These new loan services bring a whole new dynamic to the cannabis industry and we’re proud to lead the industry with the largest collection of financial options. Now any CBD or Hemp location can apply for traditional land loans, and very shortly, THC locations will be able to do so as well.”
HARDCAR is recognized for its cash-in-transit services, its cannabis banking, vaulting, and financing. It operates in 11 states, and in Washington D.C.