Michigan 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.

Cannabis loans by FundCanna

Applying for Cannabis Funding in Michigan a 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

fundcanna 3 step process

Get access to the funding your Cannabis Business needs. FAST

Is Cannabis legal in Michigan?

In 2018 Michigan became the first Midwest state to legalize the recreational use of cannabis. With the passage of the Michigan Regulation and Taxation of Marijuana Act, adults over the age of 21 can legally possess, grow, and consume cannabis.

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How do you get a license to open a cannabis business in Michigan?

To apply for a Cannabis license in Michigan, applicants are required to pay a non-refundable fee of $3000 just for pre-qualification. After being approved, Michigan will assess an initial licensure fee. Fees vary by license type and range from $1000-$24,000.

How do you get a license to open a cannabis business in Michigan?

To apply for a Cannabis license in Michigan, applicants are required to pay a non-refundable fee of $3000 just for pre-qualification. After being approved, Michigan will assess an initial licensure fee. Fees vary by license type and range from $1000-$24,000.

michigan cannabis loan options

Cannabis Loans in Michigan

It is very unlikely a cannabis company can borrow money from a Michigan bank. While cannabis is fully legal in Michigan, it is still classified as a Schedule 1 controlled substance and remains federally illegal. Because of this, most banks and credit card companies won't work with you in any capacity. This means obtaining a loan for your business through your bank won't be possible. 

 

This is where FundCanna can help. We only lend money to cannabis businesses. It's all we do.

michigan marijuana loan choices

FAQ's

Without a doubt! But you’ll have to seek outside the box. Institutional banks only approve a very small percentage of ALL loan applications and being a Cannabis Business certainly does not improve your chances. As long as marijuana remains federally illegal, expect traditional banks to remain firm in their stance.

 

That's where FundCanna can assist. We have over 20 years of experience helping small and medium-sized businesses throughout the US get access to the funding they need. FundCanna exclusively works with the Cannabis Industry, and we offer several financial solutions to help your company GROW.

FundCanna makes getting funding simple and fast. Our easy 3-step application process takes about 5 minutes to complete.  Get started by filling out the online application, upload the requested documents, and get approved in as little as 24 hours.

Very fast. You will receive funds directly in your account the same day you are approved. No waiting periods. We understand you need access to money when you need it.

We offer cannabis working capital loans, equipment financing, lines of credit, dispensary loans and vendor financing. Our team will help you choose which path is best in your journey to scale your business.

Michigan Cannabis Market Report

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michigan cannabis category share
top michigan cannabis brands

Michigan Cannabis Market Report Summary:

Michigan cannabis sales are made up of 40% men, 60% women. The majority(44%) are people age 45 or older, with 23% of consumers being age 35-44, 26% age 25-34, and 7% age 18-24.

 

The average monthly spend in Michigan is $128, and the average spend per visit is $96.

 

24% of consumers say they choose to purchase cannabis to relieve pain. 12% say it's to sleep better, while 11% say it's to help manage anxiety.

 

The types of cannabis products consumers chose to purchase were 42% flower, 36% concentrates, 11% edibles, 10% pre-rolls, and 2% 'other'.

 

The top 5 cannabis brands in Michigan were:

 

  1. Livwell
  2. Choice Labs
  3. Select
  4. Redbud Roots
  5. Fluresh

Looking for a Cannabis Loan in Michigan?

Our team is here to assist you with getting a Cannabis Loan.

Apply below and a member of the FundCanna team will be in touch right away.

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Cannabis Business Loans