Although the hemp/CBD sector has been subject to intense demand from a population looking for natural, healthier alternatives, it hasn’t been easy for sellers to operate. After decades of prohibition, industrial hemp was legalized by the 2018 Farm Bill, finally giving farmers the leeway to farm the crop through state and tribal programs. And while this was a step in the right direction, it was barely enough to get the industry going.
As 2019 began, a few states here and there started their own hemp pilot programs, and with that, hemp was grown on American farms again. However, hemp is a very high-risk crop. For starters, banks avoided working with hemp farmers and CBD sellers, as there wasn’t a standard procedure for doing business with them. But perhaps the biggest challenge farmers had to deal with was...
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