Mark Hubbard is using money out of his own pocket to fund his large-scale hemp operation in Monroe. He has spent many months having conversations with bankers, financial organizations and other stakeholders.
Hubbard, of GroHub Farm, planted 35 acres of the crop this year, taking advantage of Wisconsin's first hemp harvest since the 1950s. He said he spent more than $300,000 this year on his business.
A large majority of Wisconsin bankers have concerns about industrial hemp, according to a recent survey from the Wisconsin Bankers Association.
"We want to make sure that we understand the market, we understand what the farmer's expectations are and things like revenue expectation, collateral, what other types of revenue streams those farmers might have at those points. Those are all factors that might come into play," said Mike Semmann, executive vice president and chief operations officer for the Wisconsin Bankers Association.
Read WBA's press release on the survey.
Read more from Channel 3000.