10/14/14 Company Plans to Launch ‘Full-Service’ Cannabis Bank
Tags: banking services, cannabis bank
Marijuana companies in Colorado could soon have their very own bank.
The consulting firm Advanced Cannabis Solutions has filed a letter of intent to purchase a 15,000-square-foot former retail bank in Denver. It’s goal: Use the existing infrastructure to create a “full-service bank that serves the cannabis industry,” Christopher Taylor, ACS’s chief financial officer, said in an email.
“We will start in the next few weeks with financing for operators and startups, possibly move into a vault service in the interim and eventually have a regular bank in the building,” Taylor added.
It’s an ideal location: As a former bank, the building is already outfitted with 2,000 safe deposit boxes, drive-up service windows, a steel and concrete vault, and six teller windows.
The company also plans to rent out office space in the building – which will be dubbed The Greenhouse – to a variety of ancillary marijuana companies including real estate, insurance, legal and financial firms. Additionally, it hopes to create a networking hub for the industry by hosting a variety of events and educational seminars.
Advanced Cannabis Solutions will relocate its headquarters to the space from Colorado Springs
Talent is God-given; be humble.. Fame is man-given; be thankful.. Conceit is self-given; be careful. - John Wooden
