Rhode Island 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 Rhode Island 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 Rhode Island?

Cannabis was just legalized in May 2022 for both medical and recreational use in Rhode Island. Adults age 21 and older now can possess up to an ounce of cannabis, may grow cannabis within their primary residence—up to certain limits—and possess up to 10 ounces of cannabis in addition to live plants. Retail sales may begin as early as Dec. 1.

rhode island marijuana loan programs
rhode island cannabis loan programs

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

A Rhode Island Marijuana Loans license has fees ranging from $5,00-$80,000 annually. The Rhode Island Department of Health Medical Marijuana Program implements the provisions of the Medical Marijuana Act and regulations for registered patients, caregivers and authorized purchasers. The Medical Marijuana Program accepts, reviews, and approves patient, caregiver and authorized purchaser applications and renewals.

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

A Rhode Island Marijuana Loans license has fees ranging from $5,00-$80,000 annually. The Rhode Island Department of Health Medical Marijuana Program implements the provisions of the Medical Marijuana Act and regulations for registered patients, caregivers and authorized purchasers. The Medical Marijuana Program accepts, reviews, and approves patient, caregiver and authorized purchaser applications and renewals.

rhode island cannabis loan programs

Cannabis Loans in Rhode Island

It is very unlikely a cannabis company can borrow money from a Rhode Island bank. While cannabis is fully legal in Rhode Island, 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.

rhode island cannabis loan

FAQ's

You most certainly can. But not from the traditional avenues. Most banks only approve a tiny percentage of ALL loan applications. Being a Cannabis Company certainly doesn't help your chances. Until marijuana is Federally legalized, banks are not an option for your marijuana company.

 

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

FundCanna makes getting funding quick and easy. Our three 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.

Right away. 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.

Looking for a Cannabis Loan in Rhode Island?

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