This guide outlines the comprehensive documentation requirements for onboarding Cannabis Related Businesses (CRB) that require enhanced due diligence procedures.
Required Documents Summary
  • Business Operating Agreement
  • Articles of Organization
  • State cannabis licenses (and City, if applicable)
  • County/municipal cannabis permits
  • Certificate of Use/Occupancy
  • Last 3 months of bank statements
  • Annual statement
  • KYC information for everyone owning 10% or more of the business
    • Government issued IDs
    • Full SSN
  • EIN documentation
  • Organization chart showing business ownership structure, including all Beneficial Owners
  • DBA/Fictitious Business Name filing (if you operate under a different name)

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Document requirements

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Business documents

These documents prove your business is legally established and show us how your company is structured. Think of them as your business’s birth certificate and instruction manual – they’re fundamental to proving you’re a legitimate operation.
  • Your Operating Agreement
  • Original Articles of Organization
  • DBA/Fictitious Name (if applicable)

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Licenses and permits

Your licenses and permits show you’re operating legally in your jurisdiction. We need to verify all your authorizations are current and valid. The Certificate of Use of Occupancy confirms your business location is properly zoned and safe for cannabis operations.
  • State Cannabis License
  • City Cannabis License (if your city requires one)
  • Any additional county or municipal cannabis permits
  • Certificate of Use of Occupancy

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Financial records

Recent bank statements help us understand your typical business activity and cash flow. The annual statement gives us a broader view of your business’s financial health. Your EIN documentation confirms your federal tax registration status.
  • Last 3 months of bank statements
  • One annual bank statement
  • EIN documentation

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Ownership information

Banking regulations require us to know and verify the identity of all major business owners. This helps prevent financial crimes and ensures transparency in the cannabis industry.
  • Government ID (driver’s license or passport) for all owners with 10% or more ownership
  • Organization chart showing your business structure
  • Complete our KYC verification process through our Weave program

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What to expect after submission

Our team will review your documents within 1-7 business days and we’ll reach out if we need any clarification or additional information. Sponsor bank approval can take approximately 14 days, and you will receive an approval response once bank approval is confirmed.

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Keeping your account in good standing

To maintain your relationship with Straddle:
  • Keep all licenses and permits current
  • Notify us of any ownership changes
  • Update us if you change business locations
  • Maintain accurate financial records
Remember, maintaining current documentation helps ensure uninterrupted services. We’ll send reminders when it’s time to update your information, but feel free to contact us anytime with questions about your account or documentation requirements.