Welcome back to another insightful episode of the Kaya Cast Podcast, where we bridge the gap between the rapidly evolving cannabis industry and the world of business. Today, we're joined by Peter Su, a seasoned veteran in the banking sector with a unique specialty: he's launched not one, not two, but three successful cannabis banking programs. His latest endeavor at Hanover Bank aims to treat cannabis businesses just like any other, striving to remove the stigma and operational hurdles that many face today.
In this episode, Peter shares his wealth of knowledge on what cannabis businesses should look for in a banking partner, the everyday challenges of financing in the industry, and how Hanover Bank is setting itself apart by providing comprehensive, normalized banking services to cannabis operators. Plus, he offers invaluable advice for individuals in the cannabis sector struggling to access financial services like loans or mortgages.
If you've ever been curious about the financial nuances of the cannabis industry or are seeking practical advice on overcoming banking barriers, this episode is a must-listen. Join us as Peter lends his expert insights to help demystify cannabis banking, revealing both the progress made and the paths forward for businesses and individuals alike.
Key Points We’ll Cover:
- Criteria for selecting a cannabis-friendly bank
- The unique challenges and solutions in cannabis banking from Peter’s perspective
- Practical advice for cannabis industry workers navigating personal banking and loans
- The vision and future plans for Hanover Bank in the cannabis banking space
- An insightful discussion on the Asian Cannabis Roundtable and its role in changing perceptions and fostering community within the industry
Enjoy this episode for a clearer understanding of how banking can support the growth and normalization of the cannabis industry. Don't forget to subscribe to our podcast for more expert discussions like this, and visit our website for an archive of past episodes. Happy listening!
00:00 Introduction to KayaCast
00:16 Guest Introduction: Peter SU from Hanover Bank
00:58 Cannabis Banking Experience
01:22 Challenges in Cannabis Banking
02:58 Treating Cannabis Businesses Like Normal Businesses
06:11 Advice for Cannabis Industry Employees
11:37 Personal Banking for Cannabis Industry Workers
14:54 Future of Cannabis Banking at Hanover
25:28 Asian Cannabis Roundtable
29:49 Conclusion and Contact Information
30:44 Thank You and Podcast Information
Available on all major podcast platforms. Subscribe on Apple Podcasts, Spotify, Google Podcasts, or your favorite podcast app to never miss an episode.
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Tune in, learn, and leverage these insights to help your cannabis business thrive in a complex landscape!
Find out more about Hanover Bank at:
https://www.linkedin.com/in/petersu/
https://www.linkedin.com/company/hanoverbank/
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