After more than 20 rejections from landlords, Brian Bartley began to wonder if Minnesota's new cannabis industry was really open for business. The 57-year-old Army veteran is trying to get his social-equity cannabis microbusiness, Green Lane Express, off the ground. He received his preliminary license in April, starting an 18-month clock to open his business.
"I have to pour my life savings into this," he said. "My retirement is going into this."
But each time he mentioned marijuana during lease talks, the conversation ended almost as quickly as it began. Across Minnesota, zoning limits, cautious landlords and federal banking restrictions have made real estate one of the steepest climbs in the state's emerging cannabis economy — especially for entrepreneurs like Bartley without deep pockets.
Even though Minnesota legalized cannabis sales at the state level, marijuana remains illegal under federal law. That keeps most national banks from financing or servicing cannabis companies, and many landlords from taking a risk on them.
Read more at Minnesota Star Tribune
