Banks Curious about Cannabis Banking

September 3 2020 21:37 - 21:38 UTC

September 3 2020 21:38 - 21:39 UTC

September 3 2020 21:39 - 21:40 UTC

September 3 2020 21:40 - 21:41 UTC

September 3 2020 21:41 - 21:42 UTC

September 3 2020 21:42 - 21:43 UTC

September 3 2020 21:43 - 21:44 UTC

September 3 2020 21:44 - 21:45 UTC

September 3 2020 21:45 - 21:46 UTC

Banks Curious about Cannabis Banking

Financial institutions interested in the new expanding cannabis industry need to understand operations at a foundational level. Having a strong understanding of the history of the cannabis industry, what products are being developed, and how the seed to sale process occurs will allow financial institutions to accurately assess the risk in providing capital to a business. The resources in this section have been contributed by Green Flower, the global leaders in business solutions for the cannabis industry, as well as the official authorized training provider to FOCUS standards.

The resources below consist of:

  • Video, Part 1: The History of Cannabis - In this video segment, Dr. Bearman will discuss the various uses of cannabis for the past thousands of years before it became prohibited. He will then talk about some key points and people that led up to the federal prohibition of cannabis in the United States in 1937. We will then move through the 80 plus years that cannabis has been illegal and point out some key influencers in favor of cannabis

  • Myths about Cannabis - In this article, we will discuss some of the most enduring and pervasive cannabis myths. For each myth we address, we will provide concrete evidence to demonstrate why it is false.

  • Video, Part 2: Understanding our Endocannabinoid System - In this video segment, Dr. D'Ambrosio offers a comprehensive overview of the Endocannabinoid system (ECS), including its biochemical pathways and nerve receptors. It also discusses how the Endocannabinoid system maintains homeostasis within the human body.

  • CBD Product Types - This article discusses several types of CBD products that consumers should be aware of. This reading material also dives into the pros and cons of flower, vapor cartridges, tinctures, topicals, and much more.

  • Video, Part 3: Quality Control in Cannabis - In this video segment, Joel Stanley talks about the quality control of packaged and labeled cannabis products. The importance of compliance testing processes and procedures must be followed to ensure consumer safety and product reliability.

  • Sectors in the Cannabis Industry - This article explores how the cannabis industry is ripe with potential. However, challenges face each sector and the industry. How professionals adapt and innovate may largely determine the future of medicinal cannabis.

  • Video, Part 4: The Business of CBD – Introduction - In this video segment, Kimberly Dillon discusses the business of CBD. Retail sales of CBD consumer products in 2018 were 600 million and 2.2 billion dollars. By 2016, CBD is estimated to produce up to 16 billion dollars in retail sales. The passing of the 2018 Farm Bill has helped open the CBD market.

  • Video, Part 5: The Business of CBD – Sourcing - In this video segment, Kimberly Dillon talks about sourcing your CBD. The first way of sourcing is with the farmer directly. A farm can also be told to table story. Another way to find CBD is through a co-packer.

  • Video, Part 6: The Business of CBD – Processing - In this video segment, Kimberly Dillon covers CBD processing. Once someone has the flower or biomass, those items need to be extracted on the path to creating CBD. The various extraction methods include, CO2, alcohol, butane. There are two CBD extracts, distillate or isolate.

  • Video, Part 7: The Business of CBD – Manufacturing - In this video segment, Kimberly Dillon covers CBD manufacturing. Adding CBD to a product is called infusion, which is why we he the term infused products. Infusion could be started at home, but eventually a test kitchen with bench production will be needed. To work at a larger scale, a co-packer is needed, one can been from the food and beverage industry, while others specifically focus on CBD products. All co-packers need to be vetted, so looking at Good Manufacturing Practices, along with if they are registered with the FDA.

  • Video Part 8: The Business of CBD – Distribution - In this video segment, Kimberly Dillon breaks down the world of CBD distribution. One method of distribution is the national and grocery channel, also drug stores are another venue. Mass retailers are also another avenue. Online distribution is the best for a company but there are roadblocks.

  • Video, Part 9: The Business of CBD – Marketing - In this video segment, Kimberly Dillion dives into the CBD marketing. The key is marketing your product where your consumer shop. Marketing CBD through SEO and SEM can be tricky because you cannot do a paid search with CBD. The key is being clever and finding the niches. Paid sites and ad words might be unavailable.

  • The Glossary of Cannabis Nomenclature - Cannabis nomenclature (pdf below) This glossary is provided by FOCUS – Foundation for Unified Cannabis Standards. For more information on FOCUS please see the section in the On Demand library created for banks who are actively banking CRB

Now you have completed more this section of the On Demand Bootcamp Series – find out more by looking at the other sections in the On Demand library created for the Cannabis Banking Group.

  • Direct MRB
  • MRB Bank Account
    • Indirect MRB
    • Cannabis Related Business (CRB)
    • Marijuana Related Business
    • Certified Cannabis Banking Professional (CCBP)
RESOURCES
  • Glossary of Cannabis Nomenclature (FOCUS).pdf
    Attendees Only
  • Myths about Cannabis.pdf
    Attendees Only
  • CBD Product Types.pdf
    Attendees Only
  • Sectors in the Cannabis Industry.pdf
    Attendees Only
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