What You Need to Know Before You Start: Your Guide to Hemp Banking With FLCBank.
With the finalization of Florida’s Hemp Program Rules, farmers and small businesses across the state can farm and process. This gives financial institutions like FLCBank the green light to provide these businesses with the banking services they need to build a successful foundation.
In this guide, we break down how FLCBank can help you achieve all of your Hemp Banking needs.
TABLE OF CONTENTS:
- Hemp Defined with FLCBank
- FLCBank: A Partner You Can Trust
- Speak with A Banker Today
Hemp Defined with FLCBank
Healthline describes Hemp as cannabis containing 0.3 percent or less THC content by dry weight. It can be used to produce products like:
- Animal Feed
- Clothing and Apparel
At FLCBank, we believe the state of Florida, its farmers, businesses and residents will benefit greatly from this new industry. It’s important to note though, many questions still remain in Hemp Banking.
FLCBank: A Partner You Can Trust
At FLCBank, we understand the hemp and CBD industry. Our qualified bankers are ready to help you build and sustain your business today. Our personalized service, combined with local decision-making, allows our bankers to provide businesses in this growing industry with services like:
- Checking Accounts
- Online Banking
- Merchant Services
To try and secure the success of every business we work with, we have taken the time to:
- Educate our bankers in all aspects of Hemp and CBD Business.
- Collect software needed to monitor FLCBank’s adherence to the Florida’s Hemp Program Rules.
- Create internal procedures and controls that allow FLCBank to provide banking services and ensure FLCBank’s compliance with laws and regulations.
Currently, financial regulators such as the FDIC and OCC do not plan to issue specific guidance on hemp. Instead, they’re depending on institutions, like FLCBank, to provide those services in a safe, sound manner.
Financial institutions which aren’t focused on hemp often decide to exit the business and exiting their clients happens frequently.
Other Specialty Banking Services
Hemp Banking falls under FLCBank’s Specialty Banking services. Other specialty services FLCBank offers are:
Speak with A Banker Today
At FLCBank, we pride ourselves on providing exceptional service! Our expert team is ready to answer any question you may have. We encourage you to reach out to us today!
Click HERE to learn more about Florida’s Hemp Bank.