National ATMsCannabis Industries Business Financial Solutions
Grow your budding business with Magnifi. Accounts and digital tools for hemp, CBD, and marijuana-related businesses.
Magnifi Financial offers accounts for CBD (Cannabidiol),
hemp-related, and marijuana-related businesses licensed and registered in Minnesota. Our specialized
Commercial Officers work one-on-one with you to guide you through all the state and federal financial
account requirements.
Allow our knowledgeable staff to put your mind at ease, knowing your
business accounts are set up correctly and in compliance with state requirements. Our staff will also
visit you to help you complete annual on-site requirements.
Solutions for CBD & Hemp
Businesses
We offer a wide variety of products and services for any type of business. No matter if your business is small or large, our Commercial Business Officers offer guidance at any stage to get you on track to your business goals.
Specialized Accounts
Our local Commercial Officers help
set up your accounts so that they meet state and federal regulations.
Customized Financing
We work on customized financing for
your business for term loans or revolving lines of credit
(Hemp accounts only).
Cash Courier Services
To ensure your safety and that your
cash remains secure, we will help coordinate the setup of a cash courier service and optional
"Smart Safe."
For cannabis-related busineses, all of your businesscash must
travel through the cash courier service.
Marijuana-Related Businesses
Magnifi has partnered with an industry-leading agency that helps monitor accounts, follow regulations, and provide businesses with an outstanding member experience.
Magnifi team members have done extensive research, training, and studied best practices for this new and unique industry. We are fully educated and prepared to support your growing marijuana-related business.
- Direct MRB: A business licensed by the state's marijuana authority. Examples: Adult-Use, Medical, Retail, Processing, Cultivation, Testing.
- Indirect MRB: A business where 51% or more revenue is from a Direct MRB. Examples: Testing labs, Cash transport, Accountants, Lawyers, Landlords, POS software providers, Electrician (lighting), Payroll, HR.
- Marijuana Adjacent / Service Providers: Businesses and persons associated with the industry that merit ongoing monitoring.
Hemp-Related Businesses
Magnifi Financial has very competitive terms for hemp-related businesses, which include low fees. We make sure you're comfortable with all of the terms of your loan or deposit account.
- Hemp Producers: A business licensed by the state or federal (USDA) hemp
regulatory authority.
Examples: Fibers, Textiles, Seed, Meal, Oil, Imports, Exports. - Hemp-Derived Cannabinoid Businesses: A business that derives its revenue from
the extraction, production, or commercial distribution of hemp-derived products.
Examples: General retail sales, Dispensary sales, Pharmacy sales, Online sales.
Get Started
Fill out our online form with some information about your business and the products or services of interest. Your local Commercial Officer will be in touch within 1-2 business days.
Join the Magnifi Family!
At Magnifi, you're not just a member-owner of an award-winning credit union, you become part of the Magnifi family and receive all the benefits and perks you need to succeed financially.
