Illinois Cannabis Loans
The FundCanna team has funded over $20 Billion to small and medium businesses nationwide. We can provide you with a Cannabis Loan in as little as 24 hours.
Applying for Cannabis Funding in Illinois has never been easier.
Fill out the form below and have access to the capital you need in as little as 24 hours.
3 easy steps
Get access to the funding your Cannabis Business needs. FAST
Has Illinois legalized cannabis?
Yes! Governor J.B. Pritzker signed a bill in January 2020, legalizing marijuana for both recreational and medical use. In the years since, the Illinois governor has made the new adult-use marijuana program a centerpiece of his tenure.
Residents can purchase and possess up to 30 grams of raw cannabis, cannabis-infused products that contain fewer than 500mg of THC, and 5 grams of cannabis product in concentrated form. Visitors to Illinois are allowed to purchase and possess half those amounts. Chicago has a growing number of dispensaries, though more than 40 dispensaries throughout the state have been approved to sell recreational pot.
What do I need to do to open a legal marijuana business in Illinois?
The first step is to register with the Illinois Department of Financial and Professional Regulation, Medical Cannabis Division. Illinois is only awarding 60 cannabis licenses so it’s safe to say if you snooze you lose. Expect this number to climb as more legislation comes down the road.
What do I need to do to open a legal marijuana business in Illinois?
The first step is to register with the Illinois Department of Financial and Professional Regulation, Medical Cannabis Division. Illinois is only awarding 60 cannabis licenses so it’s safe to say if you snooze you lose. Expect this number to climb as more legislation comes down the road.
Cannabis Loans in Illinois
100%. But you’ll need to find an alternative lender. Traditional banks generally approve only about 20% of ALL loan applications, with Cannabis Companies receiving about zero percent of that. Until cannabis is federally legalized, expect traditional banks to remain reluctant to loan.
That's where FundCanna can help! We have over two decades of experience helping small and medium sized businesses throughout the USA get access to the financing their Cannabis Company needs. The FundCanna team works exclusively with Cannabis Businesses, and we offer several financial solutions to help your company GROW.
FAQ's
100%. But here’s the thing: you’ll need to find an alternative lender. Traditional banks aren’t your friends. They generally approve only about 20% of ALL loan applications, with Cannabis Companies receiving right around zero percent of that. Until cannabis is federally legalized, expect traditional banks to remain firm in their stance. Don’t worry though, you have options… we can help!
FundCanna has over 20 years of experience helping small and medium-sized businesses throughout the USA get access to the financing their Cannabis Company needs. The FundCanna team works exclusively with Cannabis Businesses. We love underdogs like you, and we offer several financial solutions to help your company GROW.
You already took the first key step… you’re here! We make getting funding quick and easy. Our three-step application process takes about 5 minutes to finish. Start by filling out the online application, upload the requested documents, and you can be approved in as few as 24 hours.
In a flash! We aim to get you the money you need as quickly as possible. In almost all cases, you will receive funds directly in your account the same day you are approved.
So many sorts! We pride ourselves on our flexibility, and offer a wide range of options. Equipment and vendor financing, dispensary loans, cannabis working capital loans, lines of credit, and more. We have the ways and means to help you scale your business.
Illinois Cannabis Market Report
Illinois Cannabis Market Report Summary:
Illinois cannabis sales are made up of 46% men, 54% women. The majority(43%) are people age 45 or older, with 21% of consumers being age 35-44, 31% age 25-34, and 5% age 18-24.
The average monthly spend in Illinois is $114, and the average spend per visit is $96.
12% of consumers say they choose to purchase cannabis to relieve pain. 10% say it's to sleep better, while 10% say it's to help manage anxiety.
The types of cannabis products consumers chose to purchase were 37% flower, 33% concentrates, 15% edibles, 8% pre-rolls, and 2% 'other'.
The top 5 cannabis brands in Illinois were:
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