USDA’s Coronavirus Assistance Program for Agricultural Producers

USDA's Restoration for American Agriculture On April 17, the United States Department of Agriculture announced the Coronavirus Food Assistance Program (CFAP), a $19 billion immediate relief program with a focus on supporting farmers and ranchers, maintaining the integrity of the food supply chain, and ensuring Americans continue to have access to the food they need.

By |2020-07-27T13:43:47-06:00April 30th, 2020|Banking and Finance|

Cannabis Financial Hardship Solutions: Workouts, Receivership’s, And Assignments for The Benefit Of Creditors

Most plant touching MRBs will undoubtedly face financial stress over time. With zilch in the till and creditors crashing through the door, what’s a respectable Cannabis business to do? Although federal bankruptcy protection is presently unavailable, Marijuana Related Businesses ("MRBs”) may obtain financial distress relief via “workouts” or state law receivership's or assignments for the benefit

By |2020-07-27T13:00:20-06:00April 6th, 2020|Banking and Finance|

Finding the Silver Linings in a Stalled Market

Last year was a rollercoaster for cannabis companies. In Q3 of 2019, the “Big Four'' publicly-traded Canadian cannabis corporations collectively lost $14 billion in market capital. And it wasn’t just Q3. Cannabis stocks suffered the majority of last year as companies struggled to meet revenue projections. Unsurprisingly, these enormous losses give investors a lot of

By |2020-07-08T15:50:26-06:00March 18th, 2020|Banking and Finance|

Lifting of Hemp Banking Restriction Clears Path for Marijuana Banking

Not only did banking hemp just get easier and more profitable, prohibitions on providing financial services to Marijuana growers, processors and sellers (“MRBs”) may be further reduced. In conjunction with state bank regulators, this week four federal agencies issued a statement fortifying hemp cultivation’s legal status and removing costly compliance requirements preventing banks from providing

By |2019-12-18T10:56:54-07:00December 5th, 2019|Banking and Finance|

Wake of the Flood

How the SAFE Banking Act Can Remove Barriers to U.S. Cannabis Finance In the third financial quarter of 2019, the“Big Four” public Canadian cannabis corporations lost nearly $14 billion in market capital. For the last few years, Canadian investment has been the prominent financial resource for the global cannabis industry. But now the time has

By |2019-12-18T13:04:52-07:00October 23rd, 2019|Banking and Finance|

Publicly Traded Cannabis Gets Real on Valuations

Stock market bandwagon rides, no matter how good usually come to an end.  Hopefully, investors get where they thought they were going rather than crashing with all aboard.  I often tell clients that I am a professional pessimist and it appears that the irrational exuberance for publicly-traded cannabis stocks is coming to an end.  Exemplify

By |2020-07-08T15:46:53-06:00October 16th, 2019|Banking and Finance|

2019 National Law Journal : Trailblazers Finance, Banking & Capital Markets

Steve Schain was recently named one of National Law Journals 2019 Trailblazers! Congratulations Steve! Steve Schain began representing Wells Fargo about 20 years ago. "I ended up representing more lenders and mortgage services in all kinds of litigation. Then, I helped them through Dodd-Frank and other regulations." See more at law.com

By |2019-12-18T13:44:34-07:00October 10th, 2019|Banking and Finance|

Why the SAFE Banking Act’s Passage May Solve Cannabis Banking

Paving the way for banks and insurance companies to serve state-legal Marijuana growers, processors, transporters and sellers (“Marijuana-Related Businesses” or “MRBs”) without fear of federal reprisal, on September 25, 2019, the United House of Representatives passed the “Secure and Fair Enforcement Banking Act of 2019” (“SAFE Banking Act”). A bipartisan bill seeking to align federal

By |2019-12-18T12:25:34-07:00September 30th, 2019|Banking and Finance|

Week In Review – September 13-19, 2019

Investment Opportunities Grow As Cannabis Expands Into New Consumer Markets For years, friends and family and angel investors were the primary funding sources for cannabis ventures, as only those closest to the industry were willing to take the risks that came with investing in a sector that, while increasingly legal at the state level, was

How to Move and Bank Cannabis Cash in the US and Beyond

Spanning 34 states and generating $10.8 billion domestically in 2018, banking and cash management is one of legalized marijuana’s greatest obstacles. While 633 banks and credit unions (financial institutions) provide marijuana growers, processors and sellers (marijuana-related businesses or MRBs) with accounts, this is a small fraction of nation’s 11,954 financial institutions, which, to offset onerous

By |2019-12-18T12:35:06-07:00September 10th, 2019|Banking and Finance|
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