Wisconsin – Hemp, The Farm Bill, and Their Impact on Ag Lending
For growth-minded institutions, the recent legislation for cultivating hemp in the US may shed light on a new opportunity for financial institutions regarding the banking and servicing of hemp-related businesses. But the changes tied to the Farm Bill also bring increasing risks for banks and credit unions who take on these clients. Nearly 50% of bank respondents who are currently not banking hemp said they will extend services to hemp-related customers in 2020 according to a recent Wisconsin Bankers Association (WBA) survey. In this paper, Abrigo experts outline some of the critical questions that institutions can use to begin evaluating the potential value – and risk – to the institution in taking on cannabis-related businesses (CRBs) or hemp-related businesses.
Download to learn:
- How to evaluate the opportunity
- The impact of the Farm Bill
- The differences between cannabis, marijuana, hemp, and cannabinoids (CBDs)
- Potential risks of taking on these banking relationships