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November 25, 2019 Edition
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Focus on Banking & Finance

Tapping an all-cash business: Banks look for legal ways into cannabis lending

Laurie Schreiber

Although Maine legalized medical marijuana in 2010 and recreational use of the drug in 2016, the state's cannabis industry is as reliant on cash transactions as it was before legalization.

Today's Poll

Do you have a side hustle?
Poll Description

In the latest installment of our “Made in Maine” series, we visit the Gorham studio of textile designer Erin Flett, who has turned her after-hours basement side hustle into a well-known brand with a national wholesale network.

Nationwide, side hustlers started a record number of businesses during the pandemic. Today, a growing number of younger professionals are supplementing their income with a side job, as shown in a survey by Bankrate, the personal finance website. It found that 34% of Gen Zers (ages 18 to 28) have a side hustle, outpacing millennials (31%), Gen Xers (23%) and boomers (22%).

While some people can turn their side gigs into profitable businesses, others keep hustling their entire working lives –  or have neither the time nor the interest to do so. 

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