We went behind the scenes of a segment of CNBC all about cannabis business banking.
Security for Cannabis Companies
Instead of marijuana companies having to bury their money in the backyard, Sapphire Risk Advisory Group provides an outlet that the banks aren’t willing to. Weed culture is changing. Banks aren’t keeping up, so ancillary security businesses are swooping to the rescue. Gallo’s company is currently working with more than 100 cannabis companies in 18 different states and even Canada.
Cannabis Company Coverage on CNBC
Even though marijuana is legal for recreational or medical use in more than half of the United States, it is still illegal at the federal level. Therefore banks are still hesitant to do business with cannabis-based companies. This is good news for small security businesses who can help in the industry. CNBC’s “Squawk Box,” morning news show about business and politics, crewed one of our camera operators in Dallas, Texas to learn more.
Sapphire Risk Advisory Group
We sat down with the managing partner, Tony Gallo, of Sapphire Risk Advisory Group, based in Dallas, about how they are benefiting from the banks turning their backs on the cannabis industry. Gallo and his team are able to provide vaults, armored cars, and security consulting for these businesses who need the help, but don’t know where and how to find it.
Storytelling for CNBC
What else have we covered for CNBC? We headed to Miami for David Beckham’s announcement of his MLS expansion team. We went to school at Indiana University with international students. We learned about business and the Bourbon Trail in Louisville. We sat down with Gene Simmons at a summit in Vancouver. We chatted with the CEO of Lululemon, Chip Wilson at the YPO Edge Convention. And we learned some investment tips from the Beardstown Ladies in Illinois.
We are happy to work with CNBC covering any story, especially ones covering an ever growing industry. No pun intended.
Watch the full piece HERE.