SAN DIEGO, March 18, 2024 (GLOBE NEWSWIRE) -- FundCanna, the leading provider of capital to small to medium-sized businesses throughout the cannabis sector, announced today a partnership with Greenbax Marketplace, which named FundCanna as its preferred lending partner. Greenbax, a subsidiary of North Bay Credit Union and a trusted partner in the cannabis industry since 2017, is dedicated to providing safe and secure banking services to cannabis companies. The partnership with FundCanna gives cannabis operators a trustworthy and compliant avenue for lending, which is desperately needed in the capital-intensive sector.
“FundCanna’s partnership with Greenbax solidifies our commitment to providing access to trusted lending solutions to operators across the cannabis industry,” said Adam Stettner, founder and CEO of FundCanna. “One of the oldest and most respected cannabis banking programs partnering with one of the fastest-growing and most reliable cannabis funding organizations provides a major benefit to operators who are looking for partners they can trust and work with time and time again. In an industry dealing with a lack of liquidity, few reliable partnerships and regulatory uncertainty, we must continue to work together to provide cannabis companies the same opportunities, tools and services available to traditional businesses.”
With 20 years and $20B of on-balance sheet lending experience, FundCanna is committed to broadening lending access to customers across the nation. Greenbax aims to level the playing field for cannabis businesses by providing convenient and compliant banking solutions and connecting customers to preferred partners for insurance, wealth management and human resources needs. As true pioneers of the cannabis industry, Greenbax’s alliance with FundCanna gives customers access to two trusted and expert partners in the space. This partnership aims to streamline the application, documentation and approval processes, so customers can expect lending to be smoother than ever.
“The partnership with FundCanna will help many of our clients who simply want to run their cannabis companies like any other business,” said Greenbax Marketplace President Carole McCormick. “We are excited to offer easily accessible solutions for banking and lending services to help business owners across the sector and the country.”
Greenbax and FundCanna provide cannabis operators with access to banking and lending services that have historically been unattainable, either because of legal red tape or cost-prohibitive measures. Backed by North Bay Credit Union, an NCUA-insured financial institution, Greenbax customizes its services to meet each customer’s unique goals. With FundCanna as a partner, Greenbax customers can expect industry-leading innovation and flexibility to service their funding needs.
About FundCanna
FundCanna is the leading source of debt capital to the cannabis industry. The funding products FundCanna offers are customizable, flexible, renewable and reliable. The financing offered is designed exclusively for cannabis operations and the ancillary companies that support the industry.
For more than 20 years, their team of financial experts has provided $20 billion in funding to underserved businesses and individuals across the country. Adam Stettner, founder and CEO, has successfully founded and run finance companies for the past 20 plus years, earning numerous national awards and recognition notably including EY’s Entrepreneur of the Year and seven showings on the Inc. 500/5000.
Stettner and his team have focused their efforts exclusively on financing licensed cannabis operators and ancillary providers since 2021. For more information about cannabis financing, visit FundCanna.com.
About Greenbax
Serving the cannabis industry since 2017, Greenbax Marketplace, a subsidiary of North Bay Credit Union, is a banking solution that removes the hurdles for cannabis and CBD businesses. Greenbax offers financial services tailored specifically to the industry. Greenbax is the proud preferred banking partner of the California Cannabis Industry Association.
Media Contact:
Anne Donohoe
KCSA Strategic Communications
fundcanna@kcsa.com
