How To Get Funding ForYour Cannabis Business
CAN I GET FINANCING
FOR MY CANNABIS BUSINESS?
Absolutely. And how cool is THAT? The fact that pot farmers, edible makers, weed delivery services, dispensaries, and more can safely operate in the open – and secure funding – was a pipe dream not too long ago.
We’ve come a long way in a relatively short amount of time. The winds are finally shifting.
Thanks to passionate activists and strong public opinion in favor of legalization, an ever-growing number of states are ditching their Draconian laws. Many, like California and Colorado, have green lit ganja for recreational use (so long as you’re 21). Other states only allow medical use. But the fact that so much of the country has some form of legal weed in the books is… incredible. Hooray for common sense!
This is a very exciting time to be in the cannabis industry… with one key exception – financing.
Since marijuana is still illegal on the federal level, mainstream financial institutions are steering clear. Big banks and creditors aren’t offering business loans or lines of credits to cannabis companies, and we don’t foresee that changing until Congress comes to their senses and legalizes weed. But don’t worry, you don’t need the traditional players to secure funding to grow your business. You just need to find an alternate lender. Ideally one with an award-winning team of experts that specialize in providing financing solutions to underserved entrepreneurs and “potportunists” like you.
In other words, FundCanna.
We only lend money to cannabis companies. It’s what we do, and we do it better than anyone in the industry. So, kudos to you! You’re on the right track.
With that said, here are some things to consider as you head down this path.
WHAT IS A CANNABIS BUSINESS LOAN?
Imagine you had the hottest new product on the market. Your brand is popping. Your supply can’t keep up with the demand. You need to expand. You need another warehouse, new manufacturing equipment, more employees, whatever. The opportunity is huge, BUT… like any business looking to grow, you need capital to make it happen. You need a loan.
Under normal circumstances, you’d be able to get a loan or line of credit from a bank or creditor. But you’re not a normal business. You’re in the ganja game and the mainstream lenders won’t lend. If you’re going to capitalize on this opportunity, you’re going to need to borrow money specifically designed to meet the unique needs of this unique industry. You are going to need a cannabis business loan from an alternative lender like us.
WHAT CAN A CANNABIS BUSINESS LOAN BE USED FOR?
Cannabis business loans are a lot like everyday small business loans in that they can be used for anything that will help your company succeed. Our financial solutions can help you cover operating expenses like rent, payroll, and utilities, as well as capital expenditures like land, equipment, and construction. That said, here are a few popular use cases for the clients we serve:
Cultivators
High-quality cannabis is more than a product. It’s… alchemy. One that takes a hell of a lot of patience and practice. The best cultivators obsessively tinker with seeds, soils, nutrients, and airflow. Anything and everything to mesmerize and maximize yield. Some of our clients borrow money to scale up, leasing a new space and outfitting it with the latest and greatest. Others borrow to bridge a gap while waiting for their customers to turn accounts receivable to revenue. Whatever the case, FundCanna is here to help.
Dispensaries
All the best dispensaries have one thing in common – a dizzying array of elevating goods. In fact, some of the top retailers have over 500 SKUs – five hundred products! And while this is fantastic news for consumers, you don’t need a business degree to see that it takes A LOT of capital to run a successful pot shop. We can help retailers get a leg up by buying inventory up front. We help keep their shelves stocked with the hottest products, and they make small, manageable payments when they make sales.
Manufacturers
These are the early days of the legal marijuana movement, and there’s a reason it’s often compared to the Wild West. Green is the new gold, and an ever-growing number of “potportunists” are rushing in to stake their claim. Innovators and entrepreneurs are always coming up with new tech, processes, and products. Whether your company makes nutrients or next-level hash, you’re gonna need resources to purchase the goods and materials to GO. That’s where FundCanna comes in.