To start a Wallet, follow the steps in our application process. You will need to submit the following information: Name, Address, SSN# or EIN, personal or business bank account, and your cannabis business license (if you are a plant-touching business). You can create an account here:
The Wallet is an online platform that allows you to store, send, and receive money as a cannabis business.
The Wallet supports all ancillary and licensed cannabis businesses needing access to online financial services. This includes individuals with the following License / Operating Statuses:
Applicant
Name, Address, SSN, EIN, personal or business bank account and your cannabis business license (if your business is plant-touching), as well as any business representative with ownership exceeding 25%.
Our online application can be completed in minutes and your status will be available within 48 hours. Once approved, you can do instant transactions with other Wallets and fast transfers to external bank accounts with a standard ACH transaction.
Unfortunately, we are unable to offer you a Wallet at this time. When you apply for a Wallet, we perform real time KYC/KYB checks to verify user identity and ensure all compliance standards are met.
Users are typically denied for the following reasons:
False data inputs were detected
It may take up to 48 hours for the status of your Wallet application to change. In rare cases where it takes longer, our team will manually verify your identity and business information. Thanks for your patience and we'll notify you upon review completion.
Wallets are for ancillary and State-licensed cannabis businesses only. Unlicensed or illicit cannabis operators are strictly prohibited from creating a Wallet. Accounts found to be in violation of our Terms of Service will be terminated. If you own a new entity that is organizing to acquire a license to sell cannabis products, then you may create a Wallet by selecting the operating status that describes your business (e.g. Applicant or Awarded, not Operational.)
The Controller is the individual who oversees daily accounting operations like payroll and payments. Please enter this individual's information when creating a Wallet.
You can switch your account subscription by
The Standard plan for the Wallet is $250/month and includes unlimited ACH transactions. We also offer a free Wallet with two free ACH transactions included—each additional ACH transaction incurs a fee.
Pleaseproviding details about this charge. In doing so, please include the date, amount of the charge, and any additional information. Our customer success representative will help you shortly.
Please reach out to our customer success team for support.
All payments are final once the subscription cost for the monthly Wallet has been processed. If you wish to downgrade your plan, you can do so at any time. You can switch your account subscription by:
There are no additional fees for the Wallet. The Free plan has no monthly fee, and you receive 2 ACH transfers a month. There will be a $15 fee for any ACH transfers beyond the allotted amount. Standard Wallets allow unlimited ACH transfers and incur no additional fees.
Unlimited Wallet-to-Wallet transfers and unlimited external bank transfers (ACH).
Unlimited Wallet-to-Wallet transfers and 2 external bank transfers (ACH) per month. The Free Wallet will be charged $15 for each additional external bank transfer (ACH).
Money can be sent to other Wallet members and via an ACH transfer to external bank accounts.
Money can be received from another Wallet and via an ACH transfer from your linked external bank account.
All transfers are final. Please carefully review all details before completing any transfers to ensure funds are going to the correct destination.
All transactions are final. Please carefully review all details before completing any transaction to ensure funds are going to the correct destination.
Cash deposits and withdrawals are not permitted.
Money orders or physical check deposits and withdrawals are not permitted.
Unlimited Wallet-to-Wallet transfers and 2 external bank transfers (ACH) per month. The Free Wallet will be charged $15 for each additional external bank transfer (ACH).
Unfortunately, we do not support this functionality at this time.
To transfer funds to another Wallet, you will need the e-mail address connected to the other Wallet-holder's account.
We do not support this functionality at this time, however you can invite them to create a Wallet.
While building your transfer request to a non-Wallet holder, you will need their business name, business email, bank account and routing number of the recipient.
This feature is currently not available, although we have digital and physical debit cards on our product expansion roadmap.
This feature is currently not available, although we have digital and physical debit cards on our product expansion roadmap.
All transfers are final. Please carefully review all details before completing any transfers to ensure funds are going to the correct destination.
ACH stands for Automated Clearing House, a U.S. financial network used for electronic payments and money transfers. Also known as “direct payments,” ACH transfers are a way to transfer money from a Wallet to an external bank account digitally.
If have selected the Standard plan, you will be charged $250 to activate your wallet, then monthly thereafter.
The Wallet is protected by encrypted technology to ensure your privacy and security. This technology includes SSL & TLS encryption, PCI Level 1 and industry standard data privacy.
All transfers are run against OFAC/AML Databases. We also encourage Wallet users to select unique passwords that include a mix of uppercase and lowercase letters, numbers and special characters. Additionally, only use the Wallet with internal and external accounts that you know and trust to avoid any fraud. All transactions are final and we encourage you to be diligent when reviewing all details to ensure you are working with fair partners.
The Wallet is SOC2 compliant and requires all Wallet members to sign forms to attest that they are legal and hold a cannabis license.
You can reset your from the login page.
Please fill out this form to reach customer service.
A customer service representative would be happy to assist you. Please contact us and someone will be with you shortly.
If you are not an IL SE applicant, you must be a Wallet holder for at least 6 months to be eligible for a loan with Good Tree Capital. Sign up for a wallet here:
Yes you can, however, we can not proceed with processing your loan until you have been pre-approved by the DCEO
Under the loan program, a borrower can only have one active loan at a time.
To qualify for a loan, you must receive pre-approval from the DCEO, and be able to submit the following documents:
Tax return transcripts for most recent tax year
You can find more details and apply to the DCEO program through their landing page.
Outside of interest, we charge a 1.5% management fee upon the close of your loan.
We only require that you use the Wallet for transactions that use the loan funds, for reporting purposes.
Good Tree Capital has been selected to participate in the Illinois Department of Commerce and Economic Opportunity (DCEO) Cannabis Social Equity Loan Program. This $30 million dollar fund will provide low-interest loans to social equity licensees within the State of Illinois.
Social Equity Licensees are exempt from the 6-month wallet holding requirement to access capital, however they must create a Wallet to receive funds. The Wallet must be used for expenses paid with loan capital. Create a wallet here:
If you are eligible for a loan, you will be able to apply by:
We offer our borrowers rates that work for them, not against them, and provide options for flexible loan terms that best suit their business needs. Contact us for more information.
We require a personal guaranty for 20%+ owners, and a 1st lien position on the entity/license. We also accept machinery and equipment as a form of collateral.
Applying for a GTC loan takes <15 minutes. The process of getting approced takes 1 month, on average, based on document preparedness and communication cadence.
Please email us at support@goodtree.capital and one of our representatives will help you
