I'm wondering if anyone has a list of business types that they're unwilling to bank and if they'd share those industry types with me. I know it depends upon each bank's risk appetite; however, we're just working to create this list.
I'm thinking so far (as examples)...
Strip Clubs
Adult Stores
Marijuana Related Business
CBD Oil
Third Party Payment Processor
MSB
not sure what type of business my bank may choose to bank or not has any bearing on what your bank chooses to bank or not. For ones that we deem to be not the best ones to bank, we have a high earning threshold that they most produce $X annually before we will agree to bank them, and that number is 7 figures.
as others have stated, this is solely at your banks exec mgt or board level to determine