Green Check Verified was founded to connect the cannabis industry to banking, financial and business services. Kevin Hart, the company's founder and CEO, realized that the industry would always have a supply and demand problem for banking services. He focused his efforts on creating that supply and built a platform that now has 13,000 cannabis businesses working with 176 different financial institutions to facilitate more than a billion dollars in sales deposits every month.
Hart says more banks and credit unions are entering the industry and not just for depository services. While all banks want deposits, most new accounts coming into the space want to be able to lend to the industry.
Hart recently did a study with Beau Whitney from Whitney Economics that predicted the cannabis industry will need $56 billion to $160 billion in additional capital over the next five-to-eight years—this is on top of the multi-billion debt cliff operators are facing. "Financial institutions hear numbers like that and they start to pay attention," Hart adds.
The Cannabis Equipment News (CEN) team recently traveled to MJBizCon 2024 in Las Vegas from December 4 through December 6. At the show, we interviewed leaders from nearly every aspect of the industry. We didn't have time to interview everybody, so if we missed you, please reach out to [email protected]. MJBizCon 2025 is scheduled to be held from December 2, 2025, through December 5, 2025, at the Las Vegas Convention Center.
