Thanks in large part to the growing popularity of hemp-derived products, such as the now-widespread cannabidiol (CBD) oil, Ohioans can now apply for a three-year license to process hemp. If you are interested in becoming a licensed hemp processor, however, you need to purchase a license bond. Our surety bond experts can help you through the licensing process and provide you with a hemp processor bond that meets the state’s new licensing requirements.
Don’t wait to hit the ground running with your new hemp manufacturing business — contact us today for a free, no-obligation surety bond quote.
Ohio law requires a license for both hemp cultivation and hemp processing (Please note that these are separate licenses). Anyone interested in using raw hemp to create oils, paper, wood, clothes, plastic substitutes, and other hemp-derived products must acquire a hemp processor license through the Ohio Department of Agriculture. A hemp processor bond is required as part of the licensing process.
Depending on the scale of the hemp processing operation, the license bond amount can range from $10,000 to $20,000. The obligee for all hemp processor bonds is the Ohio Department of Agriculture.
The cost to acquire a surety bond depends largely on the principals’ credit report. For hemp processors, we are able to write a surety bond for 1%-2% of the required bond amount. Fill out our free quote form for a better estimate of your total bonding costs.
Unlike most surety companies, we provide business owners and entrepreneurs with simple and efficient bonding so they get started on their businesses right away. Our online applications are secure and easy to use. We also have flexible financing and a bad credit program, so hemp industry newcomers can apply. For those interested in joining the fast-growing, hemp manufacturing industry in Ohio, we are well-versed in all things surety bonds, having represented some of the most respected hemp manufacturers in the state. Contact us today or fill out a bond application to get your free hemp processor surety bond quote!
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