MIRAMAR BEACH, Fla.--(BUSINESS WIRE)--With cannabis sales spreading across the country thanks to growing legalization and regulation of the herb, Neutra Corp. (OTCBB: NTRR) is investigating new opportunities arising in the fledgling industry’s financial services sector.
Nearly all banks remain hesitant and unwilling to work with cannabis startups, since possession and distribution of the herb is still illegal under federal law. Cannabis entrepreneurs may produce an airtight business plan but find themselves unable to secure a loan or even a checking account, even as demand for these businesses swells in the 23 states where cannabis sales have been approved.
To fill the void, private firms are stepping in, providing equity financing in cannabis-friendly states as well as alternative capital such as debt, convertible debt, venture capital and angel investments. In return, the financiers gain ownership of a portion of the company. These firms, such as Los Angeles’ KindBanking, are providing a lifeline not only for cultivators and dispensaries, but for ancillary businesses such as equipment manufacturers, edible product makers, media outlets and more.
The growing demand for these financial services could open potentially lucrative new opportunities for Neutra Corp., says company CEO Sydney Jim.
“There is a service gap here that we can potentially capitalize on,” Mr. Jim said. “We are considering providing a payment platform that could help meet the needs of patients and suppliers alike.”
By providing technologies and services designed to ensure safer, more reliable access to cannabis and other nutraceuticals in approved markets, Neutra Corp. is working to achieve unprecedented growth in 2014 alongside Cannabis Science, Inc. (OTCBB: CBIS), Medical Marijuana Inc. (OTCBB: MJNA) and Terra Tech Corp. (OTCBB: TRTC).
About Neutra Corp.
Neutra Corp. is a healthy lifestyle company that specializes in the development and marketing of natural wellness solutions, including cannabis-related products. For investing information and performance data, please visit www.neutracorp.com.
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