Media & Press

First Business Credit Score Reports for Cannabis Industry Officially Launch From CTrust

"Credit-Scoring System Yields Unprecedented Level of Transparency, Benefiting Financial Institutions, Investors and Cannabis Business Owners ------- CTrust, the first and only cannabis business credit scoring and risk monitoring agency, announced today the beta launch of its cannabis credit scoring platform, now available to financial institutions, investors and business owners."
LOS ANGELES (AP) — The Biden administration’s move to reclassify marijuana as a less dangerous but still controlled drug was hailed as a monumental step in reshaping national policy. But it might do little to ease a longstanding problem in the cannabis industry — a lack of loans, checking accounts and banking services that other businesses take for granted.
A fascinating conversation with co-founder and CEO of the world’s first cannabis rating agency.
Green Check (GC), the leading fintech connector, and technology and insights provider in the emerging cannabis market, today announced it has partnered with CTrust, the first credit scoring and monitoring agency for cannabis businesses, and Whitney Economics, a global leader in cannabis and hemp business consulting, data and economic research, to produce a new research report examining cannabis debt and equity financing.
New investment in the cannabis industry has slowed due to a combination of stifling regulations, economic uncertainty, lack of access to capital, and restrictive banking options. Nevertheless, skilled investors still can capitalize on opportunities arising from this uncommon convergence of market conditions.
New collaboration augments Green Check's cannabis financial solutions marketplace with built-in credit scoring for cannabis businesses seeking financial products to support their operations.
Cannabis businesses in survival mode must identify their core competencies and streamline operations to stay solvent and restore trust. The legacy cannabis market is in distress. To bring it back from the brink, lenders and operators need transparent evaluations and rapid action to preserve value, overcome obstacles and survive.
New investment into the cannabis industry has recently slowed down due to a combination of stifling regulations, economic uncertainty, lack of access to capital and restrictive banking options.
Credit ratings for cannabis companies are essential because equity financing has become increasingly challenging to obtain. Correspondingly, tightening credit standards will likely cause debt to become more expensive or unavailable for poorly rated companies.