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Nike John, owner of The Heritage Club, has always been industrious and ambitious. So, when her mom suggested the cannabis business as a potential growth opportunity, she didn’t shy away from the challenges this new business venture presented.
"Banking is one of the toughest things in the cannabis business."
“How to raise funds and knowing where to start are the biggest roadblocks, because a lot of banks don’t do business with marijuana related businesses at all, and don’t know anything about it,” Nike explains. The banks that do offer it, usually charge much higher fees for cannabis business customers.”
When it comes to banking, count on us to roll up our sleeves.
“I actually called Northern Bank about a personal mortgage,” she continued “and I connected so well with the people there that I inquired about my business banking options, too. Other banks I spoke to wouldn’t even get back to me. They sort of dismissed me before I even started.”
“The person I spoke to at Northern knew a ton about how to get started in a marijuana related business, and he was really attentive and communicative,” she explained. “You definitely get the feeling that every individual cares at Northern Bank and I want to work with people like that who are excited to help my business grow.”
“Northern Bank is a great choice for small businesses in particular. They’re very small business friendly and unlike other banks, they allow cannabis businesses to have multiple accounts at no additional charge.”
Being a relationship-driven bank means we put our customers' needs first.
“Right now, I have my business and personal accounts at Northern Bank and I use their wire transfer and online banking and bill pay services quite a bit,” Nike said. “There’s a lot of fraud online these days and making sure my wire transfer is verified is really important. They have really good online banking for business, too.”
“As I grow my business, I’d like to add a delivery service and more locations. I’m also hoping to get back into the real estate sales business and am excited to work with Northern Bank even more in the future. It’s so great to have a bank where I don’t have to worry about anything. Someone is always looking out for me and letting me know how they can help.”
Nike John is not just passionate about her own business, she’s passionate about helping other business owners be successful. When she is not at her Charlestown dispensary, The Heritage Club, she is attending business networking groups, meeting and sharing ideas with minority business owners, and looking for ways to give back to the community, including working with a local law clinic to provide closing cost assistance to help people buy their first homes.
When Jon Erickson, owner of J. Erickson Plumbing and Heating LLC, was frustrated with his experience at a “big bank”, he turned to Northern Bank for a personal relationship focused on customer service.
For Chilacates, having a partner that understands family business and shares their passion for success made all the difference.
For one business, it chose Northern Bank for its online banking and local community feel.
Contact us now to learn more about how Northern Bank can help you realize your goals and dreams.