News
Illinois Banks See Pot Dispensaries Too Risky
52 marijuana dispensaries and 18 cultivation centers have been given the green light (pun intended) in Illinois, but some are finding financing a little tricky. Three Illinois banks will accept deposits from licensed marijuana businesses, but license-holders can’t reveal which ones. Banks see the business as risky, despite the state’s tight regulations on medical marijuana permitting, according to Crain’s Chicago Business. As such, none are lending to these enterprises, and institutional investors, namely Alex Thiersch’s Chicago-based Salveo Capital, are looking to jump in. The goal is $25M, with—hopefully—$10M raised in the next month. [Crain's]
