Cannabis Banking, solved.
Running your legal cannabis-related business is complex enough without all the financial runarounds — cash transactions, lending hurdles, banks that avoid you. Until now. Abaca ties together enterprise class financial services technology with comprehensive banking services to create a cannabis banking “one-stop-shop” in the palm of your hand.
With Abaca, cannabis-related businesses have access to their own bank account with one of our partner financial institutions, access to lenders for real estate, equipment, and inventory financing needs, tools for electronic management of finances, payroll, and bill payments and a host of other financial services. Further, the Abaca digital solution affords your customers — whether businesses or consumers — simple, instantaneous e-payment options that simplify and speed cash flows to your business.
With a comprehensive, simplified and secure online banking, Abaca delivers modern financial services to owners and management of cannabis businesses, enabling you to focus on the important things like strategy, sales and growth. Getting a business checking account has never been easier for cannabis businesses. Whether you are a dispensary, cultivator or ancillary business, Abaca helps reduce additional costs and risks.
How Does Abaca Work?
Abaca works just like getting a normal bank account for your business, but with additional due diligence. We’ve partnered with FDIC-insured local and regional banks, keeping the money at home and giving you a simple and secure banking solution.
What we collect from cannabis applicants:
The Cost of Cash is Significant to Your Bottom Line
Accept pin debit and electronic payments in-store and online. The majority of consumers would rather use a card than cash, especially if the transaction is over $22 (Experian). Increase transaction count and ticket amount with Abaca’s secure, fast and reliable payment processing options.
Grow Your Business
Cannabis has been called the industry for the 1%. Abaca is solving that problem, too. You don’t need access to private capital to get into the cannabis industry. Look at lending solutions through Abaca to help your business really grow.
Abaca helps connect cannabis businesses with real estate/mortgage loans, equipment financing, inventory credit lines, purchase order financing and receivables factoring. With offices in Colorado and Arkansas, we are helping cannabis businesses grow nationwide.