Haha "Banks now will be loaning out cash for the weed sector soon." is it now or soon? Definitely not now, soon maybe years away.
Banks balk on marijuana money despite US guidelines http://www.cnbc.com/id/101433431 Many praised the move as giving financial institutions "the green light" to finally serve the multibillion dollar cannabis industry. But the nation's bankers don't see it that way.
They say the guidance from the Department of Justice and the Department of Treasury doesn't change the fact that possession or distribution of marijuana violates federal law, and any bank that supports those illegal activities could be prosecuted or sanctioned.
(Read more: US issues new rules on banks and legal marijuana)
The Colorado Bankers Association called the guidance a red light. The association's senior vice president, Jenifer Waller, said the government outlined "all the risks involved of banking the marijuana industry" and "made it very clear that financial institutions can still face criminal liability."
Maybe competition when banks eventually agree to give out loans instead of just open accounts like they've agreed to now.
Ever been a grower? It sounds like you're very knowledgable so give us the grower perspective of using a bank loan vs using a Growlife equipment program.
Sort of a trick question because I already know the perspective.
I bet that when banks finally do allow loans that it will force the GIFT program to become more competitive in rates. I'm sure as it stands now that the GIFT program demands a decent payback.
However you're still getting all of the equipment upfront which means less parties involved in the transaction. Then you pay back the $ for equipment post harvest and it all eventually becomes yours with no strings attached.
EXACTLY. The whole GIFT scheme is troubling. Simply a means by which the company could soften shareholders to the idea of increasing A/S by TWO BILLION SHARES.
This could easily turn into a decent company, but as of late I see red flags everywhere.
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