In 1996, California became the first state to legalize cannabis for medical purposes. Today, the majority of states have legalized cannabis for either medical purposes or recreational use. Even though those states have some form of legalized cannabis it’s currently illegal for banks and credit unions to loan money to those entities. In order for a cannabis company to secure a premium finance loan they must go through a provider that’s not subject to those specific banking laws.
We currently represent two premium finance providers that offer loans to the cannabis industry.
One of them is considered an industry leader and pioneer in that space. If you’re in need of a market for financing the insurance premium of a cannabis company please contact us for a no obligation quote. We will do whatever we can to secure the most flexible payment terms for your client.
Brien Volpe, CPCU