U.S. laws hamper medical marijuana banking options

With more than 150 investors contributing a total of $27 million to his company, Phil Goldberg still couldn’t get a loan from a bank.

It’s not because the banks didn’t want to provide a loan. It’s because they couldn’t.

Goldberg is chief executive officer of Green Leaf Medical, a grower of medical marijuana that is distributed by dispensaries. The company has three locations, including a 45,000-square-foot site in Frederick.

“Most banks would be willing to loan (money) to you with those kinds of numbers, but not a cannabis business,” Goldberg said. “That’s still a big problem.”


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