The sparse number of banks willing to work with hemp products around the US is about to change. Both federal and state banking regulators announced last week that they were ready to move forward in working with one of the largest growing markets in business right now: hemp and CBD products. Whether brick and mortar retail to support with online credit card processing, this open the floodgates for hemp producers nationally.
What does this mean for Wholesale CBD Products?
This change will provide an enormous boost in ability to grow as a hemp retail business as well as overall sales. Because dealing with banks has been a huge issue since the passing of the Farm Bill a year ago, this move forward will be helpful for those thinking about carrying a wholesale CBD product line or selling their hemp products online.
Why did this take so long?
There are so many rules and regulations that go into this industry. Rules vary state by state, which makes things like online retail extremely difficult to deal with. Another reason contributing heavily to the wait is the lack of education amongst those writing rules and regulations. Because of this, many parties (or banks, in this case) are afraid or don’t want to deal with any backlash of allowing business with hemp producers due to confusion and headache.
Wholesale CBD Products for Sale
This progression is a huge milestone in the hemp industry. Have you been thinking about carrying wholesale label CBD products in your store? Casco Bay Hemp is happy to help move your business forward. Contact us today by emailing wholesale@cascobayhemp.com.
