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Boston Cannabis Banking

Access personalized banking and unparalleled regulatory advice through Safe Harbor Financial. No institution is better equipped to offer marijuana banking in Boston.

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Despite the wholesale legalization of cannabis in Boston, federal regulators still prevent major financial institutions from providing banking services to cannabis-related businesses. 

Safe Harbor Financial exists to bridge this divide. After our founding in 2015, we’ve worked alongside more than 600 cannabis firms across 20 different states, delivering our unmatched financial services and regulatory advice. 

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

Through our tireless efforts to support the underbanked cannabis industry, we’ve earned a reputation for personalized banking, impeccable due diligence, and 100% regulatory compliance. Now we’re offering the same bespoke services to businesses seeking marijuana and hemp banking in Boston.

Please speak to our expert team about joining Safe Harbor Financial today.

Boston Cannabis Banking Services

All cannabis-related businesses need reliable access to banking services. With federal regulators hampering access to major financial institutions, many cannabis-related businesses are turning to unscrupulous financial institutions or misrepresenting their businesses to gain access to much-needed financial services. We facilitate all the financial services your cannabis company needs to succeed:

  • Checking and savings accounts
  • Online banking with 24/7 account access
  • Consumer payments
  • Electronic tax payments
  • Cash management accounts
  • Cash pick-up and delivery services
  • Investment options
  • Employee accounts
  • Direct deposit payroll
  • ACH payments and origination options
  • Wire Services
  • Financing
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Achieve success with marijuana banking in Boston

As a major metropolis on the east coast, Boston is a thriving center for the medicinal and recreational marijuana industry. With the first legalized cannabis sales occurring in 2018, the industry has gone from strength to strength. Indeed, between November 20, 2018, and January 20, 2019, consumers purchased nearly $24 million in recreational marijuana products.

Alongside the booming recreational cannabis industry, sizable CBD and hemp sectors are also in need of marijuana and hemp banking in Boston. 

Safe Harbor Financial has extensive experience supporting a burgeoning cannabis industry – being instrumental in the development of Colorado’s now-thriving cannabis industry. We’ve seen the landscape change from local dispensaries to leading giants – and we’re ready to share what we’ve learned.

We consider ourselves a part of the community, being dedicated to ensuring all cannabis-related businesses receive the same personalized advice and services. We don’t want to see cannabis companies face the same financial difficulties as those that came before, nor turn to unscrupulous organizations. 

With our expertise, honed over seven years in the industry, we can meet your regulatory demands, provide you the capital to grow, and deliver all your necessary financial services.

Please speak to our team about joining Safe Harbor Financial today.

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Open your account today to elevate your success!

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Frequently Asked Questions

How do I access your financial services? +

To join SHF, you’ll need to follow three simple steps: (1) submit your application, (2) conduct a document check, (3) interview, site inspection, and an in-depth business review. 

Please submit the following documents as part of your application:

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

For any further questions about Safe Harbor or the application process, please get in touch with our team

Do you offer loans and other financial services? +

Yes. As part of our mission to serve legitimate cannabis-related businesses, we supply companies with the capital they need to grow. From dispensaries to cultivators, our cannabis business loans are available across all sectors of the industry.

When submitting a loan application, you’ll need to submit the following documentation:

  • 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

If you’re an existing bank member, please notify your personal banker about your loan application. They’ll help smooth the process, keeping track of the application. We always endeavor to turn around applications within a 30-day window.

Why is marijuana banking in Boston important? +

Aside from the obvious difficulties of running and expanding a business without a checking account or access to capital investments, keeping excess cash on-site can become a target for thieves and fraudsters. You’ll need to invest in protection, staff training, and armored vans to defend your profits. 

That’s not a problem when you go with us – we’ll protect your money where thieves cannot access it.