Banks and financial institutions helping cannabis businesses to open bank accounts and get loans

As 2015 comes to a close many cannabis business owners are scrambling to finalize all the appropriate paperwork that will ensure their businesses run as smoothly as possible going into the New Year. Business professionals with an interest in the industry have virtually no time to waste if they intend on operating medical marijuana collectives legally.

A select group of alumni from the industry’s leading cannabis educational institution, 420 College, are a step ahead as a handful are using what they’ve learned and are being recognized and rewarded by various financial institutions. Each 420 College seminar exposes students to the reality of the industry and helps them acquire a thorough understanding of the language they’ll need to use and understand which is proving to be the difference between successful and unsuccessful marijuana businesses.

To date, 420 College students have opened business banking accounts for cannabis related operations. These banking institutions opened these accounts knowing full well that each operation involved cannabis in some way, shape, or form. While cannabis has enjoyed a spike in social acceptance as of late, acknowledgement of these business operations via acceptance by federally insured financial institutions marks a significant victory for the industry as a whole.

it is important to note that it takes a large amount resources and time to get in a position where an individual can start a cannabis business. Anyone serious about establishing themselves in this industry must have a sizable amount of liquid assets they command along with the time to invest in order to prepare for the endeavor.

These specific students were determined and committed to each being a successful presence in the industry. Each individual alumni member formed their own corporation and used the knowledge they gained from the 420 College workshops when drafting and then later presenting their corporation’s articles of incorporation to their respective financial institutions. The language included in these articles is by necessity highly specific and subject to the most recent legislation affecting the cannabis industry.

Just last week Academy Mortgage Corporation, out of Capitola, CA, approved a 420 College student’s application for a loan after reviewing a completion certificate provided by the CEO of the cannabis workshop and educational institution. George Boyadjian, CEO of 420 College, said, “We have been doing our part in trying to educate people with an interest in the industry about how to do this the right way. The only way to succeed in this business is to comply with every guideline and every law even as they shift in time. It feels great to finally have some outside legitimization, especially from several objective financial institutions; this is just the beginning and we look forward to more of our students proving out what we’ve been preaching for some time now.”

420 College title will be hosting their final seminar of 2015 on December 5th & 6th in Pasadena with their attorneys and other industry professionals. This will be the final chance to get into the cannabis industry and be considered “grandfathered in” before having to apply for the new license types in 2017.


Contact: George Boyadjian

Company: 420 College


Phone: (855) 420-8255


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Contact Person: George Boyadjian
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Phone: (855) 420-8255
Country: United States