I was consulting on underwriting with a small community bank that just so happened to do a lot of business with marijuana companies.
Suddenly, one of the owners of a marijuana customers comes in and drops STACKS of cash on the counter with a little deposit slip.
I was in shock.
I had never seen anything like it.
But the teller happily accepted it and brought the money back to the BREAK ROOM to count it.
It was the only private space in this little bank branch, but it was covered with security cameras.
So in came $420,000 – Right next to the toaster, microwave, and the cash counting machines
Most people assume there are wads of cash sitting in a bank safe.
But in reality – it rarely has over $200k.
Even if they have Billions on a screen.
Banks are in the business of LENDING money – Not storing it.
—
🔔 Follow Brian on Linkedin: Brian Pillmore
