This dispensary saw major growth during COVID, but is calling for more acceptance from banking industry – WUSA9.com
“We’re still having banks trying to cancel our accounts because we’re associated with the [marijuana] industry.”
ELLICOTT CITY, Md. — Imagine doubling your profits over the last year but still having banks threaten your business’s financial stability because the products you provide are illegal, federally. That’s the experience two women from Maryland face being in the medical marijuana industry.
Leslie Apgar and Gina Dubbé run Greenhouse Wellness; Apgar is an OBGYN that deals with the medical aspects of the business, and Dubbé is a venture capitalist with an extensive financial background. They are not marijuana smokers, but said they enjoy that the products they sell have helped people with medical issues that range from Parkinson’s to ADHD.
During the pandemic, Greenhouse Wellness in Ellicott City saw significantly higher profits due to a jump in people using cannabis-based products and getting medical marijuana cards in Maryland.
Greenhouse Wellness was not the only dispensary that saw major profit growth. A recent BDS Analytics, Inc. study showed that legal cannabis sales in the U.S. passed $17.5 billion in 2020, a growth of 46% over 2019’s $12.1 billion. In Maryland alone, The Baltimore Business Journal reported figure grew