Cannabis Banking
Cannabis-related businesses need access to specific banking solutions from a bank they can trust.
As the cannabis industry continues to evolve, businesses need a bank that is dedicated to evolving along with them. Parke Bank was at the forefront, as one of only six banks in the country serving the medicinal cannabis industry when it was first approved in New Jersey. Our team of professionals collectively offer a decade of experience and expertise. Parke Bank’s Cannabis-related Business (CRB) banking solutions can provide you with the secure, reliable and effective banking your growing business needs.
We work with:
- Dispensaries
- Wholesalers
- Cultivators
- Testing labs
- Armored transportation
At Parke Bank, you will find:
Trust
Experience
Security
Frequently Asked Questions
Are banks permitted to work with cannabis-related businesses?
Though many banks may choose not to serve cannabis-related businesses (CRB), we are permitted to work with them. The SAFE Act, if passed, will reinforce this. (See SAFE Act FAQ below). Parke Bank is here to serve the needs of most businesses, and have already established relationships with many CRBs.
Does Parke Bank work with cannabis-related businesses in any state?
With locations in New Jersey and Pennsylvania, Parke Bank is ready and equipped to work with your business in both states. However, as cannabis-related businesses and laws continue to evolve, we may have the ability to grow with your business while maintaining compliance with appropriate state laws.
How can I start a banking relationship with Parke Bank?
One of our Parke Bank representatives would be happy to discuss the possibility of opening an account. Get in touch with us here >>
Does Parke Bank finance cannabis-related businesses?
We are willing to discuss the possibility, but due to the risk involved, cannot promise financing a CRB. Get in touch with us here >>
What is the SAFE Banking Act?
The Secure and Fair Enforcement (SAFE) Banking Act was introduced to Congress in May 2017, passed by the House in April 2021 and is currently pending being passed by the Senate. Specifically, it would prohibit regulators from barring banking institutions from offering financial services to cannabis-related businesses companies.
Business Banking Offerings
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