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Shortly after Massachusetts residents voted to legalize recreational marijuana for adult use, officials at BayCoast Bank realized there could be a problem.
Cannabis lenders in Massachusetts have doubled Today 9:00 AM This article first appeared on the Boston Business Journal’s . Banking is becoming an easier prospect for Massachusetts cannabis companies, with at least six financial institutions servicing the sector and at least one lending directly to cannabis clients. That’s rapid progress for the industry, which remains illegal at the federal level and three years ago had only three banks. “I continue to have conversations … with new banks who are starting due diligence around entering the industry,” said Steven Hoffman, chairman ...