Blue Sky Bank’s Deborah Lin helps Oklahoma cannabis businesses grow their green

Tulsa, OK — Blue Sky Bank’s Deborah Lin knows firsthand what it’s like to navigate the cannabis industry in a less-than-friendly cannabis banking environment.

Before joining Blue Sky Bank’s team as Assistant Vice President and Cannabis-Related Banking Lead, Deborah invested in a dispensary and grow operation. She took note of how much business owners in this industry were bending over backwards to keep their financial operations by the book. 

Though Oklahoma’s medical marijuana industry was legalized in 2018, entrepreneurs faced an uphill battle when it came to banking. Stringent state laws around cannabis-related operations forced many business owners to work only with cash. It’s difficult for them to find banks that will work with them, creating an unsafe environment for many entrepreneurs.

Deborah decided she wanted to get more involved.

“Imagine paying everyone in cash and having to deal with the logistics of it day in and day out,” Deborah explains. “I wanted to be part of the solution and provide this underserved industry a means of running their business safely and efficiently, all while changing the narrative of the benefits of the cannabis plant.”

With over 13 years of experience in business development, client service and operations, Deborah hit the ground running to launch Blue Sky Bank’s Canna-Direct and Canna-Indirect programs. 

These accounts offer full commercial business banking services, including mobile deposits, debit cards and checks, plus online and mobile app business banking.  It also includes features designed for the safety of cannabis business owners — armored cash pickup, and a private drive thru deposit drop location for cash deposits.

“Cannabis banking is critical to any business owner’s success in this industry,” Deborah explains. “Having cannabis banking allows the ease to move funds accurately, timely and most importantly, safely.”

Blue Sky Bank partners with Pay Cash Group, a Tulsa-based cash management services company, to bring cannabis business customers armored cash pick-up and transport. This means cash is picked up directly from businesses, so business owners don’t have to worry about transporting cash themselves. With this service comes the ability to track transport and deposit of the cash.  

Deborah’s days are filled with visiting dispensaries, grow facilities, processors, and other cannabis-related businesses across the state to let them know about Blue Sky Bank’s Canna-Direct account. She checks on current customers to see how the banking program is working for them and to answer any questions. 

She said she feels grateful to be in her position, citing a statistic from Marijuana Business Daily that reported women only held 37 percent of executive-level roles in 2017. Today, that number has dropped to 22 percent, despite the recent findings from The Arcview Group and the National Cannabis Industry Association that companies who have women in leadership roles are more profitable than companies without them.

“I have been blessed to have women mentors who advocate, educate and are passionate about the medicinal benefits of cannabis,” Deborah says. “I would love to see more women in the cannabis industry working together to build a community in our state and to be inclusive of all.”

Deborah says in this role at Blue Sky Bank, she’s able to work on a mission she feels strongly about: creating a more accessible cannabis industry for hopeful business owners.

“I feel passionately about making this industry more approachable, and I love seeing women business owners thrive,” she says. “I'm grateful I get to work with so many talented Oklahomans, and if my work helps encourage more women to join this industry, that's the ultimate reward.”

Business owners interested in a Blue Sky Bank Canna-Direct Account or Canna-Indirect Account can visit www.bluesky.bank/cannabis or email CRBSupport@bluesky.bank.