The State of Banking and Financial Services in the Cannabis Industry – 2022 Update 

The Cannabusiness Key is a free, monthly, web-based speaker series featuring some of the foremost thought leaders in both the marijuana and hemp industries. Started in 2016, the Cannabusiness Key has brought together dozens of interesting speakers exploring a wide range of topics that are relevant and timely for cannabis operators, owners, and investors alike.

About This Event:

Banking and Financial Services for Cannabis Businesses

One of the most difficult challenges direct cannabis businesses face in 2022 is securing the financing they need to grow and stay ahead in competitive markets and doing so on reasonable terms. High cost of capital can be one of the biggest drains on a cannabis business’ bottom line, and lack of access to a broad suite of financial services can drag an otherwise great business down. On April 27^th,  join Jason Klein as he hosts a conversation with Safe Harbor Financial’s CEO Sundie Seefried, and Paul Penney, Chief Investment Officer, to discuss why banking this industry can be so expensive; and how Safe Harbor proposes to offer a better alternative as it turns a new page in its history. You will have the opportunity to ask Sundie and Paul your own questions as we explore their experience banking the industry through the years, their thoughts on potential federal banking reforms, and their outlook for the industry’s short-term future.

Meet the Speakers:

Sundie Seefried, CEO & President, Safe Harbor Financial

Sundie Seefried is Founder and President/CEO of Safe Harbor Financial, the leading provider of reliable banking and financing solutions to the cannabis industry.

A 39-year credit union industry veteran, Seefried was the former CEO of Partner Colorado Credit Union (PCCU). Established in 2015 by PCCU, Safe Harbor was formed to provide an unmet need – compliant banking and financial services to the rapidly growing U.S. cannabis industry. Seefried designed a full scope Cannabis Banking Program for PCCU known as the Safe Harbor program, which has withstood the scrutiny of 16 federal and state exams to date. Now in its 8^th year, Safe Harbor has grown to nearly 600 accounts spanning 20 states, and processed over $12 billion in cannabis-related transactions.

Seefried authored ‘Navigating Safe Harbor – Cannabis Banking in Uncertain Times,’ a guide for entering the cannabis business banking industry. She also contributed a chapter on cannabis banking to Timothy McGettigan’s university textbook ‘The Politics of Marijuana: A New Paradigm.’

Paul Penney, Chief Investment Officer, Safe Harbor Financial

Paul Penney, CPA is an experienced institutional investor, research analyst, private company executive and board member and an early and highly engaged cannabis industry private and public company investor, lender, strategic advisor, and founder. Paul’s responsibilities run broad and deep across the cannabis space ranging from managing a senior secured / equity fund to strategic advisory and financial roles with some of the largest west-coast centric cannabis companies and THC & CBD brands.

Hosted by:

Jason Klein |Partner@Rimon Law

Jason Klein is a business attorney with a long track record of representing cannabis businesses, both marijuana and hemp, in tightly regulated markets. As one of the first lawyers on the East Coast to build a practice dedicated to the cannabis industry, Mr. Klein has a long track record of successfully navigating his clients through challenging regulatory and business operating environments amid uncertainty in new marketplaces.