BayCoast Bank

Cannabis Banking Services

“BayCoast Bank is a leader in cannabis banking solutions, using our financial expertise to serve cannabis-related businesses (CRBs) in Massachusetts and Rhode Island. With traditional means of banking not widely accessible to licensed cannabis-touching companies, BayCoast Bank stands out as one of the first financial institutions in Massachusetts to begin working with and lending to CRBs, allowing them a critical pathway to capital and the financial services they need to successfully operate, manage, and grow their businesses.” 

States Served:

• Massachusetts, Rhode Island

Official cannabis banking page: https://baycoast.bank/en/cannabis-banking-services-crb/

Media coverage: 

• Worcester Business Journal: For some banks, doing business with the billion-dollar marijuana industry is well worth the risk

  • “They were walking around with large bags of cash, paying bills in cash, and creating a security and safety issue for the communities we support,” said Gary Vierra, senior vice president and chief risk officer at BayCoast. “So we decided to fill a void: to provide a service to lower that risk to those communities and help the industry.”