Getting Banked: How to Get a Bank Account for Your Cannabis Business, and Keep It!

July 29, 2020 | 12:00 pm | Conference Room A | Business / Legal, Finance

It’s a common misconception that the cannabis industry is unbanked. While compliance burdens inhibit many banks from entering the cannabis space, options do exist. In this session, you will learn about the current cannabis banking landscape, how banks view the different tiers of marijuana related businesses, and how you can get a bank account for your cannabis business. Abaca CEO Dan Roda, a cannabis attorney and banker, will lead you through an entertaining and informative session that covers all the “DOs” and “DONTs” of getting your business banked.

The goal of the presentation is to educate cannabis business owners and managers about the realities of what financial services are available to their business, how to obtain those services, and, most importantly — how to keep them. Hear directly from the CEO of a cannabis-friendly financial service provider about how institutions view cannabis businesses and their owners, and how you can ensure stability for your business by fostering and maintaining transparent and stable relationships with financial partners.

cannnacon exhibitors

Dan Roda, CEO, Abaca

Educated at Tulane University and Villanova Law School, Dan Roda entered the professional world as a corporate attorney. He first experimented with the cannabis industry in 2017, helping clients draft and file dispensary license applications in Arkansas. During this process, Dan was exposed to the cannabis banking problem, which led him and three partners to found Abaca, a financial technology company providing banking, payment processing and lending solutions to the cannabis and hemp industries. Dan represented Abaca in the CanopyBoulder accelerator program in fall of 2018 and is a founding board member of the Emerging Markets Coalition. Dan is also vice president of the Arkansas Cannabis Industry Association and is on the National Cannabis Industry Association’s Hemp Committee.