The Cannabis industry is experiencing a good influx of businesses and investors, as more states continue to decriminalize the use and sale of Cannabis. Despite this, companies still face challenges when seeking loans and some other financing options. It is because, at the federal level, Cannabis is still considered illegal. For this reason, banks and other credit unions are very reluctant, and almost all the time do not want to get involved in Cannabis or marijuana industry financing.
Why Dispensary Industry need Financing
There is an increased need for Financing in this industry, be it for dispensaries, cannabis equipment financing, or cannabis business loans. There are other means besides traditional banks by which Cannabis business and dispensary loans are available to entrepreneurs.
- Cannabis businesses can obtain funding through Private Loans. Commercial lenders usually give private loans, although they require lots of paperwork and documentation and a good track record.
- There is also the option of Real Estate loans. It talks about loans that cater to housing and real estate for dispensaries or cannabis businesses. They could be short-term mortgages, bridge loans, and they take about 60 days to process.
- Equipment Leasing options allow dispensaries that are unable to purchase equipment that they need for operations outrightly. Their availability time is shorter compared to Real Estate loans.
Benefits of our dispensary loans vs. our competitors
Are you looking for funding for your cannabis business? Are you an existing cannabis business in need of Cannabis business lending or cannabis equipment financing? Bespoke Financial recognizes the struggles companies face in accessing funds for their cannabis businesses and is committed to making the process seamless and more comfortable for you.
- Bespoke Financial’s processes for applying for Financing are simple. Business owners no longer have to go through rigorous processes to obtain needed funding as our operations are well-structured to give businesses the best means to access Financing.
- There is no application fee or hidden charges. You can get approved for cannabis business loans within a week.
- Once you have been approved, you can access credit of up to $5 million depending on your capital needs and risk profile.
- We are willing to scale along with your business and go long-term with you as your business, and capital needs grow. We address your working capital needs through our line of credit and allocate equity capital to long-term projects.
- Payments on open invoices could take up to three months before they are received. With our foremost Invoice Financing, you no longer have to worry about stalling business operations while waiting for payments. You can get up to 75% advance on receivable invoices.
- Our Inventory Financing now sorts out issues stemming from cash flow, so you do not have to worry about straining vendor relationships.
Our Cannabis financing and procedure of business is top notch and way better than our competitors. We have a wide range of options for cannabis business owners with comparative advantages second to none. Contact us or apply now to Bespoke Financial if you are interested in business loans for a cannabis business.