Companies like Big Rock, which has invested more than $ million in the cannabis industry, are playing an important part in funding the industry s growth. "Starting up a testing lab or a dispensary is extremely capital intensive," said Stephen Kaye, Big Rock s chief operating officer. Private firms can make .California startups, shut out from banks, turn to private backing. Posted by Selling cannabis in California has the potential to generate $ billion a year, once a critical mass of businesses have proper permits, according to the Agricultural Issues Center at the University of California at Davis..California Start Ups, Shut Out From Banks, Turn to Private Backing. Editor. on December , pm. Cannabis use still lacks legal standing with the federal government. That means growers, processors and retailers can t open accounts or access lines of credit from federally insured banks. is .New York Times California Start Ups, Shut Out From Banks, Turn to Private Backing New York Times One of Gateway s graduates is Carrie Tice, the founder of Octavia Wellness. She quit her job at a technology company in when her mother became ill, and now sells cannabis as tinctures, .
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