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Alaska Cannabis Banking

Boost your business with Safe Harbor Financial’s cutting-edge cannabis and hemp banking solutions. Explore the benefits of our industry-leading Alaska cannabis banking services today.

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Due to federal prohibition, numerous cannabis-related businesses (CRBs) struggle to secure financial services. Nationwide rules against cannabis prevent major financial institutions from serving CRBs, even in legal states like Alaska. Navigating these complex regulations and rules is a daily challenge to CRBs forced to operate solely in cash or turn to disreputable financial organizations.

As a specialized cannabis bank, Safe Harbor Financial was established in 2015 to save CRBs from the clutches of underbanking. We’ve developed a range of financial services suited to the cannabis industry’s needs. From personal bankers to our loans program, we’ve got the complete toolkit for success.

Our Alaska hemp banking services include checking and savings accounts, online banking, consumer payments, electronic tax payments, direct deposit payroll, and more.

Your cannabis business doesn’t need to struggle alone. Become a member of Safe Harbor’s growing family to secure the financial services you need. Speak to our team about joining Alaska’s foremost cannabis bank.

Alaska Marijuana Banking Services

Like any business, CRBs rely on financial services to conduct their daily activities. From checking accounts to paying employees, such high-demand businesses can face severe penalties without financial services. 

Safe Harbor Financial provides everything CRBs could want — we assign every member a personal banker to manage their account. We deliver up-to-date regulatory advice—and we deliver key investments when necessary. 

Our marijuana and hemp banking services include:

  • Checking and savings accounts
  • Online banking with 24/7 account access
  • Personal financial advisors
  • Electronic tax payments
  • Consumer payments
  • Cash management accounts
  • Cash pick-up and delivery services
  • Investment options
  • Employee accounts
  • Direct deposit payroll
  • ACH payment and origination options
  • Wire services
  • Financing

Marijuana and Hemp Banking in Alaska: Current Rules and Regulations

Alaska has long been at the forefront of cannabis legalization in the US. As early as 1975, it became the second state to decriminalize cannabis, further extending the legislation in 1982. Medical legalization of cannabis was passed in 1998, followed by recreational legislation in 2014, which passed with a majority vote.

Under the law, adults 21 and over can possess up to 28g of cannabis and cultivate six plants. Sales of recreational and medical cannabis are allowed at state-licensed dispensaries — the third state to allow such transactions after Colorado and Washington.

Marijuana banking in Alaska has become a standard practice since legalization. Local businesses have raised significant revenue for the state treasury as Alaska becomes a hotspot for cannabis tourism. Indeed, a significant portion of the state’s wholesale cannabis market comes from tourists during the summer months.

However, as an early adopter, Alaska’s cannabis market is more mature than most. Businesses need an experienced bank to guide them through this process or to help penetrate an increasingly saturated market.

Safe Harbor Financial is highly qualified to support Alaska’s industry after guiding Colorado’s cannabis sector to success. No other cannabis bank has our experience.

Contact our team for further details about joining—become a member of Safe Harbor today.

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Open your account today and take your cannabis business to the next level!

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Frequently Asked Questions

How do I join Safe Harbor Financial’s cannabis banking in Alaska? +

All legal and legitimate cannabis businesses can apply to join SHF via our websites. Please complete these steps:

  1. Submit your application
  2. Document check and due diligence
  3. Interview, site inspection, and in-depth business review

We also ask you to submit the relevant documentation when applying:

  • All business documents (including bylaws and operating agreements)
  • Your marijuana license or certificate and a complete copy of your license application
  • Your IRS EIN Certification Letter

Please get in touch with our team for any further questions about the application process.

Do you have a loan program? +

Yes. SHF members can apply for a loan through their personal advisor. Once we’ve received all the relevant documents, we’ll try to process your application in 30 days.

You’ll need to submit the following documents when applying for an Alaska cannabis banking loan:

  • All business documents and relevant information
  • Tax ID number
  • A brief description of the use of funds
  • Business License
  • Type of loan needed
  • Personal credit history

Find out more on our loan program page.

What types of cannabis-related businesses do you serve? +

Our services are available to every sector of the cannabis industry. All CRBs are equally affected by federal rules. We deliver the financial services no one else will. Our expertise covers the following sectors:

  • Growers, manufacturers, and CBD extraction
  • Cannabis biotechnology firms
  • Dispensaries and retailers
  • Cannabis associations
  • Service companies
  • Cannabis industry consultants
  • Landlords and ancillary