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Ohio Cannabis Banking

A Trusted Institution for Ohio Cannabis Banking.

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Due to stringent federal regulations, accessing banking services specifically tailored for cannabis-related businesses can be challenging. However, Safe Harbor Financial, a leader in Ohio cannabis banking, offers a comprehensive and industry-leading solution for CRBs across the United States, ensuring their financial needs are met with the utmost professionalism and compliance.

With nearly 600 accounts managed and over $12 billion processed in cannabis-related funds since its establishment in 2015, Safe Harbor Financial has been operating in 20 states nationwide, providing vital financial services to the marijuana industry. 

The company has extensive experience in this field and understands the unique obstacles that cannabis-related businesses face in accessing banking services. We work hard to offer reliable and trustworthy marijuana banking in Ohio solutions for our clients, providing the support and empowerment they need to focus on growing their businesses.

Our mission is to provide secure and compliant financial services, enabling CRBs to access reliable and comprehensive banking solutions regardless of size, location, or financial history. The company firmly believes that all legal and legitimate cannabis-related businesses should have access to these services. 

Contact us today and allow us to help navigate the complex landscape of marijuana banking with a tailored package of banking services designed to meet your business’s specific needs.

Ohio Marijuana Banking Services

Safe Harbor Financial provides a customized range of banking services specifically tailored to the needs of CRBs. With years of experience in the banking industry, we understand the distinct challenges that CRBs encounter and have designed our services to cater to these needs. The comprehensive suite of services includes:

  • Checking and savings accounts
  • Online banking with 24/7 account access
  • Personal financial advisors
  • Electronic tax payments
  • Consumer payments
  • Cash management accounts
  • Cash pick-up and delivery services
  • Investment options
  • Employee accounts
  • Direct deposit payroll
  • ACH payment and origination options
  • Wire services
  • Financing

Marijuana and Hemp Banking in Ohio: Current Rules and Regulations

Like many states in the US, Ohio’s laws are a minefield for CRBs. In 2016, Governor Kasich signed Ohio’s medical marijuana program into law. Since then, the state has become one of the fastest-growing medical cannabis markets in the United States. 

However, recreational cannabis remains illegal. Nonetheless, the industry is experiencing skyrocketing growth, and this trajectory shows no signs of slowing down. 

According to the Ohio Medical Marijuana Control Program, the state’s medical marijuana market is predicted to generate over $770 million in sales by 2025 as more patients are approved for medical marijuana treatment. 

The high market entry cost has made it difficult for small businesses to compete. That’s why cannabis banking in Ohio is pivotal. 

However, the Ohio Cannabis Association is working to address these challenges by advocating for regulatory changes that will benefit patients, businesses, and the industry. The organization is also dedicated to promoting the growth of a diverse and inclusive hemp industry.

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Open your account today and take your cannabis business to the next level!

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Frequently Asked Questions

How do I join Safe Harbor Financial? +

If you’re a legal and legitimate CRB, you can join Safe Harbor Financial. To apply, please follow these steps:

  1. Submit your application through our website.
  2. Undergo a document check and due diligence.
  3. Participate in an interview, site inspection, and in-depth business review.

When applying for Ohio hemp banking, please provide all relevant documentation, including comprehensive business documents such as bylaws and operating agreements, your hemp license or certificate, a complete copy of your license application, and your IRS EIN Certification Letter.

If you have any questions about the application process or Safe Harbor Financial, please feel free to reach out to our team.

Do you have a loan program? +

We do offer a loan program to help grow your CRB. Safe Harbor Financial members can access our Ohio cannabis banking program through their financial advisors. For more information, please visit our loan program page.

Do you serve all types of marijuana-related businesses? +

We welcome all types of CRBs affected by strict federal regulations. This includes but is not limited to:

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