Lending to Hemp Businesses, Including Recent USDA Interim Hemp Production Guidance
Date(s) - 01/07/2020
2:00 pm - 3:30 pm
There’s a new and fast-growing industry of potential commercial borrowers waiting to hear about your products and services. Are you getting in the game?
AFTER THIS WEBINAR YOU’LL BE ABLE TO:
- Define what has been legalized under the Hemp Farming Act and USDA regulations
- Distinguish hemp-related, marijuana-related, and CBD businesses
- Identify the unique loan needs for the commercial hemp industry
- Use tools to establish the initial and ongoing due diligence for these borrowers
- Understand recent USDA interim hemp production guidance
The Hemp Farming Act of 2018, as passed in the 2018 Farm Bill, legalizes industrial hemp and hemp-derived CBD at the federal level. This is big news – an entire new industry of potential commercial borrowers waiting to hear about your products and services. Under the USDA’s laws and regulations and subject to your state’s laws, you can begin making loans and offering other products as soon as the 2020 growing season.
However, many financial institutions are understandably hesitant to serve hemp-related businesses, due to perceived risks and confusion about marijuana-related laws. Where do you start? How will you know a legal hemp crop from an illegal one? What ongoing due diligence and reporting will be expected? Join us for answers to these questions and more in this jam-packed session.
Attendance certificate provided to self-report CE credits.
WHO SHOULD ATTEND?
This informative session is designed for loan officers, branch managers, operations personnel, BSA officers, and compliance officers.