Payzel Says It's Reached A Cannabis Industry First: Home, Car Loans For Weed Workers

Payzel, a cannabis fintech application for financial services, said Friday that it has secured banks that will finance home loans and other services for employees of cannabis companies.

The company said the development comes in response to demand from partners across the U.S. 

"Companies had called us a number of times telling us that employees just couldn’t get a loan at the banks they were using. Wanting to help, we went to our already established network of banks and offered up a way to expedite the loan process and have cannabis employees be able to get car loans and home loans all in one place," Payzel founder Todd Kleperis said in a statement. 

Now, cannabis companies can not only access legal banking, but help to facilitate the same for their employees, the exec said. 

"Most banks will not do home loans or offer other financial services, but fortunately we have forged fantastic relationships with many banks over the past four years."