Wisconsin hemp-related businesses could have more banking opportunities in 2020, a recent Wisconsin Bankers Association (WBA) survey suggests.
The annual WBA’s Bank CEO Economic Conditions Survey asked 85 Wisconsin bank CEOs three hemp-related questions, among other economic inquiries.
Approximately 48% of respondents who aren’t currently serving hemp-related customers said they will extend services to these businesses in 2020, according to the survey. About 38% of respondents are accepting deposits from hemp-related businesses, while only 15% are currently lending to them.
Since hemp is a new industry in Wisconsin, banks still have questions about the crop cost, price, yield, returns, contracts and markets.