Detroit Cannabis Banking

At Safe Harbor Financial, you gain access to personalized banking, unparalleled regulatory advice, and an extensive range of financial services. It’s the best option for marijuana banking in Detroit.
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After witnessing the ongoing problem of underbanking in the cannabis industry, we established Safe Harbor Financial as a lifeline for such businesses. More than seven years later, we’ve seen the industry’s transparency and accountability increase under our watch.

With major financial institutions still unwilling to provide financial services to cannabis-related businesses due to federal regulators, we’re still the best option for cannabis businesses across Detroit and beyond. Companies no longer need to turn to unscrupulous organizations or misrepresent their accounts to access much-needed banking and other financial services.

By joining Safe Harbor Financial, you gain access to unmatched marijuana and hemp banking in Detroit, including checking and savings accounts, online banking, consumer payments, electronic tax payment, direct deposit payroll, and much more.

Let us help you navigate the challenging regulatory waters – speak to our team about applying to join.

Detroit Cannabis Banking Services

All too often, access to basic financial services is considered a luxury for cannabis-related businesses, not a necessity. In the worst cases, businesses are forced to operate exclusively in cash – even paying their obligations and taxes in cash. With Safe Harbor Financial, your company won’t just gain access to basic services like checking accounts and electronic tax payments; we also provide all our clients with a personal banker. Through your personal banker, you can access all our services, including:

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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Transform your business with marijuana banking in Detroit

Being the largest city in Michigan and the largest US city on the US-Canada Border, Detroit is at the heart of the recreational and medical marijuana industry for much of the Midwest. Indeed, the state was among the first to legalize medical marijuana in 2009; and followed up just under a decade later by beginning state-licensed sales of recreational cannabis in December 2019.

Alongside the burgeoning hemp and CBD industries, accessing marijuana and hemp banking is essential to ensure businesses can meet the growing demand.

Founded in 2015, Safe Harbor Financial has already shepherded Colorado’s nascent cannabis banking sector to fruition. From the foothills of the first dispensaries to state-wide giants, we’re ready to share our experiences managing cannabis-related businesses across 20 states.

In fact, since 2015, we’ve managed over 600 accounts and processed in excess of $12 billion in cannabis-related funds. With our close ties to legislators, regulators, and law enforcement, our services remain 100% regulatory compliant – protecting our clients as the legal landscape continues to evolve.

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Open your account today to elevate your success!

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Frequently Asked Questions

What do I need to join Safe Harbor Financial? +

To join Safe Harbor Financial, you’ll need to follow three simple steps:

Submit your application
Conduct a document check
Perform an interview, site inspection, and an in-depth business review

As part of the application, please submit:

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.

Does Safe Harbor Financial provide business loans? +

Yes. All our clients can apply for a business loan to support or grow their business. From the date of application, we aim for a 30-day turnaround time in our decision. We’ll review all aspects of the loan, performing our due diligence.

We’ll need to see the following documentation as part of your application:

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

Why is marijuana banking in Detroit important? +

Cannabis dispensaries and other related businesses, if devoid of financial services, are forced to operate solely in cash. Such cash-rich businesses are a prime target for thieves and fraudsters, leading to companies investing in protection, staff training, and armored vans to defend profits.

Instead, you can choose to bank with a reputable and trusted institution, protecting your profits and ensuring you’re up-to-date with federal- and state-level regulations.