With legalization spreading in different states in the U.S, the demand for marijuana merchant accounts is way high. And while possession, growth, and sale of cannabis — for recreational and medicinal use — is somehow legal in half the nation, pot remains illegal by federal law.
Medical Cannabis is thriving
Public opinion on marijuana has been a sticking point at state and federal levels. As of the passing of the California legislation, medical cannabis dispensaries are surging. Plus, more and more states are advocating and implementing decriminalization. As we speak, the whole Medical Marijuana industry is flourishing beyond everyone’s expectations.
Rising Demand for marijuana dispensary merchant account
Due to the increased demand and high sales volume, marijuana dispensary merchants are looking to start processing card payments from their clients. This opens doors for businesses in the industry allowing growth beyond the cash-only limitation and exposure to the potential profits that credit cards could bring. While obtaining a merchant account for such a niche may seem like a walk in the park, sometimes it is almost impossible.
Banks consider the cannabis industry risky from a legal and public relations viewpoint. States have uncertainties on whether or not to accept medical marijuana as a societal norm. And from a legal point of view, the medical cannabis industry faces constant legal warfare between the federal government and states. This means you can can’t easily get marijuana dispensary funding if your business is looking for additional funding.
Those are the kinds of storm hitting dispensaries that are looking to start accepting credit card payments for their services. Luckily, First American Merchant will allow you to set up a merchant account and start in on taking payments. Merchants can also get every tool they need to launch this new payment platform.
FAM is offering Marijuana Dispensary Funding
For most lenders, the marijuana industry is a no go zone! To FAM, this is a billion-dollar industry in its babyhood. So apart from the merchant account, retailers can rely on us for marijuana dispensary funding. Whether you’re in need of extra dollars to refurbish your store, get more bud strains or settle any business emergency, there’s a funding product explicitly dedicated to your type of business.
Getting our funding is painless. We insist on less paperwork and judge your business based on current status and possibility of a better future. If you have a well-doing dispensary, have the legal documentation and meet other few requirements then you can get access to quick money.