Our Services
For businesses looking to obtain their state license.
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Small business is the beating heart of our community. You’ll get the same personal Ponce Bank service that’s made us first choice for hundreds of small businesses throughout our area.
Federal illegality coupled with State legality provide an unfortunate visibility challenge for financial institutions. While the landscape to bank cannabis related business is growing, there is still limited banking space. Ponce Bank, as a CDFI understands the needs to service the under-banked in our community and beyond. Which was the driving factor in Ponce Bank adopting a cannabis banking program.
The Ponce Bank program is built to not limit the ability to service all cannabis related business, including but not limited to our local farmers, larger cultivators, processors, testing facilities, distributors and dispensaries.
Before meeting with one of our Cannabis Relationship Managers, please have the following information on hand:
- State Issued Cannabis License
- Application for a state license
- Documentation detailing all beneficial owners of the business
- State-issued identification (i.e. Driver’s license) for all account holders
- Articles of incorporation, a business plan, or other business formation documents
- Bank statements from the last six months
- Financial information and operational data of the business
Please note that your relationship manager may ask you to provide additional documentation depending on the nature of your business.
The SAFE Banking Act, which passed the U.S.House of Representatives in May 2020, allows banks to serve cannabis-related businesses. The Act specifically prohibits federal banking regulators from penalizing banks who service the needs of cannabis-related business. The bills yet to be passed by the U.S. Senate.
We provide unique services tailored to business types such as
Dispensaries, Cultivators, Processor, Wholesalers, Distributors, Testing labs and Hemp businesses.
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Will you always keep more than $1,500 in your business checking account? – Earn interest on your checking deposits.
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Apply for your account today and discover why more and more people and businesses have learned to Love Local Banking℠
Get StartedProducts, services, terms and conditions subject to change without notice.
1 Minimum opening deposit is only $50. Ask us for details. Bank rules and regulations apply. Other fees such as non-sufficient funds, overdraft, sustained overdraft fees, etc. may apply. See business schedule of fees for details. Transactions items include all debits and credits. If the CRBL - Cannabis Related Business Licensed Checking Account or CRBPL - Cannabis Related Business Pre-Licensed Checking Account exceeds 1,000 free monthly transaction items, the account may be converted to another checking product. If the CRBL - Cannabis Related Business Licensed Checking Account or CRBPL - Cannabis Related Business Pre-Licensed Checking Account exceeds $10,000 in monthly coin and currency deposits, the account may be converted to another checking product.
2Required armored courier service. Services offered through a third party vendor. Separate courier fees may apply. Ask us for details.
3Restriction on international transactions. Ask us for details. Bank rules and regulations apply. See business schedule of fees for details.
4Services offered through a third party vendor
