Davenport Cannabis Banking

Navigating the tumultuous waters of the cannabis industry is a challenge for most businesses. Considering the federal prohibition of cannabis, major financial institutions refuse to open to cannabis-related businesses (CRBs). As such, even basic tasks, like filing taxes or paying employees, becomes a battle.

That’s where Safe Harbor Financial comes in. Under our guidance, CRBs receive much-needed financial services alongside personalized banking and top-class regulatory support. It’s a lifeline for this struggling yet lucrative industry. Our Davenport cannabis banking services include checking and savings accounts, online banking, consumer payments, electronic tax payments, direct deposit payroll, and more.

We’re open to all branches of the cannabis industry. Our expertise spans from recreational cannabis to hemp and CBD. We liaise with legislators, regulators, and law enforcement to ensure our members receive the best regulatory advice in the state. Little wonder that we’ve managed nearly 600 accounts and processed more than $12 billion in cannabis-related funds.

Become a member today – no other Davenport financial institution is better positioned to support your business.

Reach new heights with marijuana banking in Davenport

Nicknamed “Iowa’s Front Porch,” this Mississippi-based city is the gateway to the great plains beyond. Like much of the state, Davenport’s economy is focused on agriculture and manufacturing. But there’s also a thriving arts scene, with the Mississippi Valley Blues Festival and Bix Beiderbecke Memorial Jazz Festival.

Despite immense opportunities for recreational marijuana, it remains illegal in Iowa. Nonetheless, medical marijuana sales are legal across the state, and the Iowa Hemp Act of 2019 allows the growth and sale of industrial hemp (defined as cannabis with 0.3% or less THC). 

That means CRBs have plenty of opportunities to expand and mature their business within the city. What’s needed is an experienced cannabis financial institution that can help businesses manage the complex regulatory framework while providing the tools for growth. 

Safe Harbor Financial has done just that across 20 states nationally, even shepherding Colorado’s cannabis industry to maturity. With our support, you’ll also be well-positioned to expand into recreational cannabis if legalization occurs (as public support suggests it may). 

Speak to our team to learn more about marijuana and hemp banking in Davenport.