Southern Vermont Bank Prepares To Lend To Cannabis Businesses

Brattleboro Savings and Loans wants to be the first in state to loan to all cannabusinesses

Lending to cannabis businesses is such new territory in the northeast that Dan Yates, the president and CEO of Brattleboro Savings and Loan, had to look to Washington and Oregon to find industry peers who would share how they do it.

Now the southern Vermont bank is taking steps that could make it the first financial institution in the state to lend to the full range of cannabis-associated businesses, from hemp to recreational cannabis.

Brattleboro Savings and Loans already lends to people who are growing cannabis for CBD, the non-psychogenic compound derived from one strain of the plant. Few lenders in Vermont or elsewhere have ventured into that territory as they wait for federal authorities to issue clear guidance on cannabis and its products.

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