New Member - First Merchant Bank Card Services https://firstmerchantbank.org/ - Providing Merchant Accounts, Loans and Legacy Cash Deposits

**firstmerchantbank** · August 1, 2018, 4:02pm

Greetings from FMBCS!
We joined today after being impressed with the quality of this portal and our ability to reach and discuss with members of the Cannabis and CBD industries how we might provide financial services.

We specialize in merchant accounts for Visa, MasterCard and signature (no PIN) debit cards; loans of all kinds to companies in the Cannabis industry and related;July 31, 2018 (Europe: Paris), July 30, 2018 (America: Los Angeles) and a bank deposit program for those that are holding large amounts of legacy cash that they are unable to deposit into our banking system.

**bryan.eden** · August 1, 2018, 1:33pm

Welcome to GNet! You’re going to find a wealth of great information from great people here!

Do you guys work with non-USA companies?

Are your loans available for starting capital?

Any preresequests?

**jszesq** · August 1, 2018, 1:45pm

Bryan,permit me to suggest that as a Canadian, you should put equity from US investors in a privately held Canadian cannabis operation about as much as you would want venereal warts and genital herpes! Generally a very bad Idea due to the potential with difficulty with foreign tax credits for the US investors and the fact that it could force the Canadian entity to have to file some reports with the IRS.

**firstmerchantbank** · August 1, 2018, 2:03pm

Hello, and thank you for your comments about Bryan’s post. With respect to our product that targets US persons who have accumulated significant amounts of cash which we refer to as “legacy cash” the investment vehicle we offer is registered with both US and the various States regulatory authorities.
With respect to our program involving loans of numerous types to cannabis operations including JVs that is a totally different program.
Our legacy cash program offers a 5-year note at a 4% return and the ability to diversify a portion of the cash deposited into a 3-year note with a 9% return.
We only deal with accredited investors and require that we interface with the attorney representing the cannabis client who has accumulated the cash. We can accept $10million in cash deposits weekly.
We have absolutely no experience with Canadian clients other than being able to offer them a Visa/MasterCard processing account.

**firstmerchantbank** · August 1, 2018, 2:06pm

Hello Bryan,
Our loan program has a $3million USD minimum and requires at least 25% of the project cost in cash.
We haven’t considered any Canadian opportunities because we have a lot of inquiries and preliminary application from US companies that are mainly acquiring an existing business or improving it.

**jszesq** · August 1, 2018, 2:15pm

That was why I commented…because we have the expertise with US and cross border US investment into Canada expertise, as well as extensive experience with Title 31 which is money laundering and currency related.

Could you expand a bit in terms of the details of the the “legacy cash program” you are referencing. I am familiar with this report and the BSA Expectations Regarding Marijuana-Related Businesses so I am very curious as to what specific program you are referring to as being registered…with FinCEN?

If you would prefer not to get into the details thats fine too.

**firstmerchantbank** · August 1, 2018, 2:32pm

We will respond later in the day as I have to go into a meeting. As a CPA, if your practice area includes cannabis related clients you may be a candidate for a referral source for us.
Thank you!

**jszesq** · August 1, 2018, 2:39pm

We are a national practice and I am a former Big 4 Tax Partner. We absolutely never, ever accept commissions or referral fees where clients are involved. It is a violation of AICPA Professional Standards and the rules of most State Boards of Accountancy, and I am not going to risk my license.

**firstmerchantbank** · August 1, 2018, 3:47pm

Dear Sir,
Without further comment we have not offered you any referral fee. That is not our practice. We only approve certain professional practices to vet out potential clients.
Thank you!

**jszesq** · August 1, 2018, 4:29pm

Tell you what…your thread I am out…have a wonderful day.

**sharonburns** · August 1, 2018, 10:00pm

Are you in Nevada, California and Oregon??

**firstmerchantbank** · August 1, 2018, 10:23pm

Thank you for contacting us. We are in sunny Boca Raton, Florida!
We work nationwide and are at your service!