Banking Your Business - What Every Cannabis Operator Needs to Know

$97.00

Product contents

Contents

Content length: 1h 7m
  1. 01. Banking Your Business - What Every Cannabis Operator Needs to Know
    8 Lessons

    Lesson contents:
    • Course Introduction
      2m
      In this video segment we introduce you to Angela Lucas, the course author and Senior Vice President of Compliance Strategies at Integrated Compliance Solutions (ICS). The objectives covered in this course are to Understand how Federally regulated institutions are able to bank cannabis operators, learn how to position your account application package to insure you land a stable and sustainable banking solution, and gain insight into the criticality of compliance between banks and cannabis operators to ensure an ongoing, collaborative relationship.
    • Banking Your Business - What Every Cannabis Operator Needs to Know
      6m
      In this video segment, you will identify why asking the right questions about your banking is so critical and discover how to position your business to the get the right kind of banking relationship.
    • Understanding How Financial Institutions can Bank Cannabis
      25m
      In this video section, we will explore what operators must understand what the financial institution has to comply with. The Financial Crimes Enforcement Network (FinCEN) has issued guidelines for financial institutions that want to bank cannabis, however they do tell how to do them. Financial institutions are left with not knowing if the potential customer is licensed and registered. Additionally, most financial institutions do not understand how the cannabis business works.
    • How to Start the Process of Banking with a Financial Institution
      8m
      In this video segment, you will identify that financial institutions don't know a whole lot about cannabis operators and will need to ask many questions. You will discover why having an electronic and hard copy of a portfolio will help the banks with their vetting process, which is important since a cannabis operator can expect to pay $500 to $3,000 dollars for each application.
    • What's in the Financial Institutions Application?
      18m
      In this video segment, you will discover what the financial institution is going to ask you for during the application process. The financial institution will as you for your articles of incorporation, your operating agreement, a copy of you state license, your USDA approved license if for hemp entities, and CBD entities that require state specific licensing.
    • Ongoing Compliance and Collaboration with the Financial Institution
      2m
      In this video segment, you will discover that it is better to be proactive in managing your compliance and communication with the bank. You will be providing monthly reports to the bank that outline the sales, inventory, and vendor payment transactions. This is so that the information is reconciled to your transaction activity at the bank to ensure one dollar of deposits has equaled one dollar of sales.
    • The Bank's Ongoing Responsibilities
      4m
      In this video segment, we will identify what the bank's ongoing responsibilities are. They are required to look at your account every 90 days. You should be prepared to provide information about any changes to your beneficial ownership, changes to management, adding new products and services, and if you have applied for different licenses of locations.
    • Closing - Banking Your Business - What Every Cannabis Operator Needs to Know
      2m
      In this video segment, you will close by using the information in this course as a study guide. The course has provided you with everything you need to document your portfolio and have everything ready to go. By giving the bank all of this information you will establish a level of comfort with them by letting them know what your responsibilities are and that you are willing to comply with their needs. This will give you the stability as an operator and make sure your banking does not disappear overnight.

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FAQs

Are there any prerequisites?
No. This program is available to anyone.
What's included with this program?
Online courses comprised of engaging videos and written materials, knowledge checks at the end of every module to assimilate your learning, private forum for students to connect and provide support, downloadable references to keep and access on your phone, and your official Green Flower Certificate (once you pass the exam).
Can I take the program online?
Yes. Green Flower Programs are 100% online and can be taken from anywhere in the world.
Who should get a Green Flower certificate? What will it do for me?
Whether you are looking to enter the cannabis industry, get hired by a cannabis company, invest in the cannabis market, win a cannabis license, become a more knowledgeable advocate, better serve the patients in your care, or contribute more deeply to your organization, getting a Green Flower Certificate will make you exponentially more confident, credible, and valuable to the cannabis industry today.
How do I pass the course?
You'll need to achieve a grade of 80% on the Final Exam to pass the course and receive your Green Flower Cannabis Fundamentals Certificate.
What can you tell me about the final exam?
The Green Flower Cannabis Fundamentals Exam is a comprehensive multiple choice exam administered online. A grade of 80% is required to pass. Enrollment allows two attempts to achieve a passing score. You will have 365 days to complete both the program and the final Exam. After 365 days, you will no longer have access to the program or testing materials. This is a closed book Exam. Upon Passing, you will receive your official Green Flower Cannabis Fundamentals Certificate to hang on your wall and use for credibility and trust in the Industry.
What happens if I don't pass the exam?
You will have two chances to pass the final exam with enrollment. Retakes are $69 after that. You must achieve an 80% passing score to receive your Green Flower Certificate.
Is your program accredited?
No, Green Flower is not an accredited school and doesn't plan to be. We produce trusted cannabis education led and validated by the world's top experts, and our programs are utilized by companies, associations, nonprofits, and governments around the world.
Will there be any mailed, hard copy books or reference materials?
No, nothing will be mailed and no hard copy text will be assigned. There are materials in each course that you can download, print, and use at your convenience.
Can any module be visited more than once, to reinforce learning?
Absolutely! You can review any and all materials as many times as you would like in the 365 days (30 for Sell-SMaRT) your program is open.
Refund Policy
We understand that sometimes plans change. If you can no longer take the course, please email us no later than 7 days after your purchase. We will be happy to issue you a refund (minus our enrollment fee of $20). No refunds will be given to cancellations made after 7 days of purchase.

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