One Of America's Biggest Banks Spearheads Cannabis Support With $1M Credit Line
First Citizens Bank provided a $1 million working capital line of credit to MC Nutraceuticals, a hemp-derived cannabinoid supplier. This move follows FCB's recent decision to enter the cannabis banking business, making it the largest bank to do so. MC Nutraceuticals, a company operating since 2019, will use the credit to support its strategic growth plans. The company distributes various hemp-derived products through e-commerce channels globally. First Citizens Bank's Cannabis Banking Director highlighted MC Nutraceuticals' reputation for quality products and service, expressing enthusiasm for supporting their expanding business. This partnership reflects a significant step towards mainstream acceptance and financial support for the cannabis industry, demonstrating a positive shift in attitudes towards the sector.
