HARDCAR Distribution has played a major role in the progression of cannabis banking throughout California, building trust with legally licensed cannabis businesses looking to bank their cash and also federally insured financial institutions looking to get cash off the streets. It appears the company has found a solution to potential risks the cash-heavy industry poses to public safety.
The cannabis industry is still in its infancy and federal laws are making it very difficult for licensed cannabis businesses to open checking and/or savings accounts with federally insured financial institutions. This dynamic results in an industry that is forced to pay its bills, employees, suppliers, and taxes in cash.
“HARDCAR has grown astronomically in the past year, expanding our team, building stronger relationships with clients and partners, and securing partnerships with financial institutions all across California. Our recent expansion into other states was inevitable as we have our sites set on massive expansion across the United States. Very proud of our team and the direction we’re headed!” – Todd Kleperis, HARDCAR Distribution CEO
Full Article / Source: www.newswire.com