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Money

handshake isolated on business background

Support system

Top of mind for most business leaders today is creating a diverse and inclusive workspace that is more than simply policies, but the creation of a safe place for employees that shows they – as well as their needs and perspectives – are respected. That’s not an easy task especially in light of recent current events coupled with a global pandemic.

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Clearing the air

Despite helping New Jersey businesses of all sizes get through these challenging times, many companies remain skeptical about applying for the Paycheck Protection Program, even though it’s been a year since its introduction. Myths, misconceptions, inaccuracies—you name it—linger, and they may be causing unnecessary hesitation. First Bank President and CEO Patrick Ryan explores five common PPP misunderstandings and explains why, if you’re a business in need of cash, the time to act is now.

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Piggy bank underwater.

Changing channels

A year into the pandemic, with the outlook for SMBs in New Jersey seeming slightly better based on recent economic data, Piermont Bank founder and CEO Wendy Cai-Lee explores how to leverage your bank to help stabilize your business, finance your growth and move forward. And how your bank can play a more active role in helping navigate the financing landscape.

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Cannabis businesses operate solely in cash due to federal banking laws. - BEAU WHITNEY

Risky business

A recent Marijuana Banking Update from FinCEN, the Financial Crimes Enforcement Network of the United States Department of the Treasury, found that 515 banks and 169 credit unions nationwide serve cannabis-related businesses. Out of the approximately 5,000 banks nationwide, that’s a relatively small number to handle the estimated $18.3 billion in legal cannabis sales in 2020. The SAFE Banking Act would change that.

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