Summary: In episode 15 of the Ministry of Hemp podcast, we get an update on hemp banking. Plus, this episode marks the beginning of our new Profiles of Women in Hemp series. First, our host Matt discusses the recent passage of the SAFE Banking Act in the U.S. House of Representatives and what it means for hemp businesses. Then we begin our Profiles of Women in Hemp with a conversation with Jane Pinto, founder of First Crop. On the Ministry of Hemp Podcast, we’re beginning a series on the women of hemp. We want to hear from you too. Send us your questions and you might hear them answered on future shows like this one! Send us your written questions to us on Twitter, Facebook, email matt@ministryofhemp.com, or call us and leave a message at 402-819-6417. Keep in mind, this phone number is for hemp questions only and any other inquiries for the Ministry of Hemp should be sent to info@ministryofhemp.com. Don’t forget to subscribe to the Ministry of Hemp Podcast on iTunes or your favorite podcast app. If you really want to help us out, we’d love for you to rate or review the show. Thanks again for listening! Contact sales@ministryofhemp.com if you’re interested in sponsoring our podcast or other content on our website. More about women in the hemp industry Here are some other articles we’ve published about women in the hemp industry: Exploring Hemp in India with Mansi Shah of Hemp Fabric LabBecoming a hemp advocate, with Cait CurleyWomen owned CBD brands we love Women In Hemp & Hemp Banking Update: Complete episode transcript Below you’ll find the full written transcript of this episode: Matt Baum: 00:04 Welcome to the Ministry of Hemp Podcast. My name is Matt Baum. Today on the show, we are starting the first of what I’m calling a series focusing on women in the hemp industry. Today we’re going to listen to my conversation with Jane Pinto from First Crop. Jane is amazing. She is not unlike interviewing a unicorn. She is spiritual. She is excited. She is powerful, and she is helping hemp farmers to bring their product to the public and making sure they do it in a safe and responsible way. Jane was wonderful, and I can’t wait for you to hear this interview, but before we get into that, let’s touch on a little news first. Hemp banking update Matt Baum: 00:52 Just a couple episodes ago, we were talking about banking and how difficult it is for anyone in the hemp business to legitimately process electronic payments or get loans from a bank. Well, there’s actually very good news this week. The SAFE Banking Act or the Secure and Fair Enforcement Banking Act of 2019, which is sponsored by several different bipartisan representatives, just passed in the US House of Representatives with a bipartisan vote of 321 to 103, which is crazy because there are no more bipartisan votes in Washington, DC. The hemp industry is feeling pretty good. It looks like this could pass the Senate, and the SAFE Act is going to be introduced, and it’s going to get voted on. Matt Baum: 01:39 What it would do, it would allow marijuana related businesses and states with some form of legalized marijuana and strict regulatory structures as well as businesses selling hemp derived products, that’s where the hemp comes in, to access the banking system. 2019 was not a great year for hemp crops. The farmers battled rain and drought and hail, mold, everything you can possibly imagine that would kill a hemp plant. This year’s harvest, which is the first since hemp was made legal throughout the US under the 2018 Farm Bill is estimated to come in at 115,000 to 138,000 acres, and that’s according to votehemp.com. That sounds like a lot, but it’s nothing when you think about the millions of acres that are devoted to major cash crops. Matt Baum: 02:30 I kn
