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TAKING THE LEAD: Swansea-based BayCoast Bank is one of the few banks that has offered financial services to cannabis-related businesses in Massachusetts, and BayCoast Senior Vice President and Chief Financial Risk Officer Gary J. Vierra says the bank is doing the same in Rhode Island as retail cannabis sales ramp up.
PBN PHOTO/MICHAEL SALERNO

Many banks remain leery despite legalized cannabis

As recreational cannabis sales take off in Rhode Island, opening and running a business still isn’t exactly simple for these merchants. For one, a delayed...
HIGH COST: John Rogue, left, co-owner and chief financial officer, converses with Chris Roy, chief operating officer, at Medici Products and Solutions, a medical marijuana cultivator in Warwick. In 2018, $100,000 worth of product was stolen from their site and their insurance did not cover the loss. / PBN PHOTO/MICHAEL SALERNO

A lack of insurers hard on cannabis industry

Theft is never a good thing, but most businesses at least have some insurance to cover the loss. Medici Products and Solutions Inc. did not. After...
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