Medical marijuana firm keeps on rolling with $35.4 million in financing

The medical marijuana market in Florida has burned through expectations — surpassing 100,000 patients enrolled in the state Department of Health’s Office of Medical Marijuana Use registry in late April.

One side of the business that’s been a drag? Financing and bank loans. That’s because medical marijuana, using it and/or selling it, remains against federal law so banks, for the most part, avoid the industry. A few credit unions, private financing firms and some banks and equity investment firms in Canada have picked up the void.