Out-of-State, Non-Bank Financing Becomes Available for Washington State Licensed Marijuana Businesses
David Spellman and Barry Abbott co-authored an article titled “Out-of-State, Non-Bank Financing Becomes Available for Washington State Licensed Marijuana Businesses.” In the article, Spellman and Abbott discuss the Washington State Liquor and Cannabis Board and its new rule allowing licensed marijuana businesses to obtain funds from out-of-state financiers.
Monday, June 20, 2016, was summer solstice. But in Washington, there were two other things to celebrate: a day to recover after the Fremont Solstice weekend, and, for legal marijuana businesses, the first day for the licensed marijuana industry to obtain funds from out-of-state financiers under the new rules from the Washington State Liquor and Cannabis Board (WSLCB).
This post describes the regulatory framework governing loans to Washington-licensed marijuana businesses and the penalties for noncompliance.