Finding financing in the cannabis industry isn't easy. Banks often do not lend to cannabis-related businesses, and even though many marijuana entrepreneurs have found workarounds, there are still many questions about staying compliant with federal, state, and local rules and regulations.
Not to mention even more questions about how to expand your current cannabis operations. Financing is often the key to taking your business to the next level, but it can be hard to see the ways that it can help you grow.
Here are just some of the ways financing can help you expand your cannabis business.
Whether you are growing, manufacturing, or running a dispensary, you need a brick-and-mortar facility to serve as the home for your business. With real estate funding, you can find the right location for your business where you can expand your existing operations.
It's true, navigating real estate in our industry can be difficult—your site must meet local zoning regulations, and your building must meet all the demands of state licensing boards and FDA regulations, as they are written. Added to the regulatory requirements is the simple fact that you and your employees deserve a building that is secure, comfortable, attractive, and hygienic.
While there are hurdles, one thing is for certain—Canna Business Financing can ensure that you can more easily access the funding you need to secure that perfect location. The real estate market can be confusing for anybody, but especially for cannabis businesses. However, sourcing the capital you need doesn't have to be a struggle.
Even after you have a building, there is a lot that goes into getting a new location up and running.
If you are opening a dispensary, you will need new display cases, lighting, fixtures, computers, and a security system. You will want to make your showroom inviting to create an improved customer experience.
If you are opening a grow room or a manufacturing facility, you will need equipment for growing, harvesting, testing, weighing, and storing your crop, as well as a way to automate all of your required recordkeeping.
New equipment can be an essential part of growth for your business, but it can get expensive—and fast. Successful cannabis entrepreneurs often benefit from new equipment a little sooner than they can pay for it from current revenues. In this case, cannabis equipment financing can help you get the funds you need to buy the necessary items that will boost your capacity and grow your business.
Great entrepreneurs can easily become the victim of their great marketing skills. Time and time again, cannabis growers and dispensary managers discover untapped demand for a specific strain or product but don't have the inventory to sell. Financing can provide you with a way to buy the products you can sell at a profit right away.
Employees expect their paychecks on time. Payments for utilities, insurance, and property taxes have to be made on time. You only get new inventory if you pay the invoices for the goods you already have in stock.
Having the working capital you need can be a game changer, and can also play a big role in helping you achieve any growth you're looking for.
Growing your business doesn't have to be stressful. With trusted professionals like us at Cannabis Financing, securing the funding you need has never been easier. No matter your needs, or the type of cannabis business you operate, we are able to assist.
Canna Business Financing creates financial solutions for all the players in the cannabis industry, whether they are involved in cannabis, hemp, marijuana, CBD, THC, or full-spectrum products.
That's why cannabis businesses need a trusted partner like Canna Business Financing. With our own curated network of private funding sources, we can help you reach your goals for your business. Don't delay growing your business because of a lack of funding, get started today and get pre-approved in just 48 hours.
Posted by Canna Business TeamFacebook
In an industry that is constantly evolving, Canna Business Financing provides business owners with a reliable source to gather the most up-to-date information. From resources to fund the growth of your business to insights on best practices to scale, look no further!