Access secure, compliant business banking in Massachusetts with Safe Harbor Financial—the platform built exclusively for cannabis operators.
Learn MoreWe serve Massachusetts’s legal cannabis community—including dispensaries, cultivators, manufacturers, and hemp businesses—with full-service solutions: checking accounts, cash flow support, lending, digital payments, and mobile banking. Every service is built to meet the regulatory demands and operational needs of licensed operators across the state.
Massachusetts legalized medical cannabis in 2012 and adult-use cannabis in 2016 through Question 4. The first recreational dispensaries opened in November 2018. The Cannabis Control Commission (CCC) oversees licensing and regulation for both medical and adult-use cannabis businesses.
Licensed operators must comply with comprehensive regulations covering security, inventory tracking, and financial transparency. Municipalities may impose additional requirements, including community host agreements and impact fees.
Despite state legalization, cannabis businesses face challenges in accessing financial services due to federal restrictions. The Massachusetts Division of Banks acknowledges these challenges and provides guidance for financial institutions serving marijuana-related businesses, emphasizing the importance of compliance with federal guidelines, including those from the Financial Crimes Enforcement Network (FinCEN) .
At Safe Harbor Financial, we’ve supported cannabis and hemp businesses nationwide since 2015, processing over $25 billion in cannabis-related funds. We provide Massachusetts operators with real banking solutions—checking, lending, payments, and mobile tools—delivered with deep regulatory expertise and a decade of cannabis-specific experience.
Note: For the most current information on Massachusetts’s cannabis regulations, please refer to the Cannabis Control Commission.
Open your account today to elevate your success!
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:
For any further questions about Safe Harbor or the application process, please get in touch with our team.
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:
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.
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.