Cannabis Banking is Finally Here with Mike Kozak #109

Cannabis Banking is Finally Here with Mike Kozak #109

Did you know that finding a bank for your cannabis business is like riding a roller coaster without the safety bar? Sure, things start out great. But before you know it you're clicking up up up to the top of the crest. Then it's a heart-stopping vertical drop of 300 feet, and losing your phone is not the worst thing that can happen. Oh no. It can turn nasty.  The same is true about banking. Without that Safebanking legislation that everyone has been waiting for, you're stuck with storing your ill-begotten weed money in your mattress and paying the light company with a wheelbarrow full of 10s and 20s.  This is no way to run a business. So what's a plucky cannabis upstart to do? In this episode, we travel back to the Michigan Cannatech Expo and chat with Mike Kozak, VP, Director of Commercial Business Development at Union Bank. I met Mike at the Michigan Cannatech Expo and grilled him on cannabis banking and how they're able to provide FDIC accounts for cannabis businesses.

The Cannabis Advocate podcast advocates for businesses in the cannabis industry and explores the unique challenges they face. Despite hurdles in legislation, regulation, and culture, there are tremendous opportunities for growers, manufacturers, and retail sellers of cannabis products. Many of these issues are unique to the cannabis industry. This podcast speaks to these common concerns and shares stories of success.

This is a production of Habanero Media.  https://habaneromedia.net