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Farmington Cannabis Banking

Expand your business with industry-leading marijuana and hemp banking in Farmington. Become a member of a renowned institution for regulatory support and personalized banking.

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We founded Safe Harbor Financial in 2015 to save the cannabis industry from the clutches of the underbanking crisis. Despite Michigan legalizing recreational cannabis in 2018, federal prohibition prevents major financial institutions from serving cannabis-related businesses (CRBs). That’s a significant ongoing challenge plaguing the nascent industry – irrespective of the state’s laws.

Safe Harbor Financial bridges this divide: as an industry-leading financial institution, we’re perfectly positioned to help your business succeed. Whether it’s our bespoke financial services or reliable regulatory advice, SHF delivers cannabis banking in Farmington like no other financial institution.

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

In the past seven years, we’ve earned a reputation for our unparalleled financial services – now, you can access them too. Become a member of Safe Harbor Financial by speaking to a member of our team – we’re ready to transform your business.

Farmington cannabis banking services

No business can operate without the basic financial services upon which we all depend. Checking accounts, online tax payments, electronic employee payroll, or even loans are all essential services for the day-to-day functioning of a business. Alongside our personalized banking, you’ll also gain access to our full range of services:

  • 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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Experience superior marijuana banking in Farmington

In 2018, the initiative to legalize recreational marijuana was passed under the Michigan Regulation and Taxation of Marijuana Act. From December 2019, businesses across the state could begin selling recreational cannabis. As with most states, the government has collected hundreds of millions in taxes from recreational cannabis sales. In 2021, they even reinvested the profits, giving municipalities over $56,000 for every recreational retail location within its boundaries – it’s a major incentive for change.

Farmington, Michigan, is a historic downtown located within the Detroit metro area. It’s ranked numerous times as one of the best places to live in the US. For cannabis entrepreneurs, it’s a golden opportunity. Whether that be opening dispensaries for the local area or basing a grow operation or ancillary business that serves the wider region.

What’s needed is an experienced cannabis financial institution that can help guide fledgling businesses to maturity. Safe Harbor Financial has already played a pivotal role in the success of Colorado’s cannabis sector; and we’re ready to share our services and lessons with Farmington.

We’re more than a cannabis bank. We’re an innovative financial institution supporting cannabis-related businesses at the heart of their communities. Speak to our team about joining today.

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Open your account today to elevate your success!

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Frequently Asked Questions

How do I join Safe Harbor Financial? +

Our doors are open to all legitimate and legal cannabis-related businesses. To become a member, please complete the application process:

  1. Submit your application
  2. We’ll perform document checks and due diligence
  3. We’ll conduct an interview, site inspection, and in-depth business review.

As part of the application, we all ask you to provide the following documents:

  • 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

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

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

Our services are not exclusive to any specific sector of the cannabis industry. We serve all types of CRBs, including: 

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