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Ag Lenders More Open to Working With Hemp Producers

Thursday, January 2nd, 2020 -- 9:02 AM

(Wisconsin Ag Connection) -Just as more farmers in the Badger State are getting into hemp production, agricultural lenders are also showing enthusiasm about the crop.

According to a recent survey by the Wisconsin Bankers Association, nearly half of the respondents who are currently not working with hemp growers say they are willing to extend services to those customers during the new year. The WBA's annual Bank CEO Economic Conditions Survey asked three hemp-related questions in addition to more traditional economic inquiries. The responses highlighted that many Wisconsin banks have been working through the complex regulatory issue of hemp and are now better prepared to assist their customers.

Thirty-eight percent of the banks are currently accepting deposits from hemp-related businesses, despite the fact that only 15 percent of those institutions are lending to those same enterprises. The survey was conducted over the first two weeks of December.

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