Marijuana banking ban puts real estate out of reach

Want to start a dispensary? Unless you have the cash to buy a building, good luck.

Five years after Colorado became the first state to legalize all forms of cannabis, there are now 1,029 medical and recreational dispensaries registered across the state. But because marijuana is still a Schedule I substance at the federal level, banks and credit unions are for the most part hesitant to operate accounts for cannabis companies or give them startup loans.

But for real estate, arguably the most expensive part of starting a small business, the lack of financing sets the…