We provide Marijuana Business Loans to established businesses in states where marijuana has been legalized. Our simple method allows us to be flexible on credit history checks and avoid the unlimited documents connected to your approval. Funding from $5000 to $500000. Rate and term is dependent on the performance of the business. The amount capital that can be borrowed is dependent on the monthly deposits. There is very little paperwork involved this is the main reason why the application process is so quick. Click to learn more about Alternative Financing Advantages.
Marijuana business loans can aid in the growth of your cannabis company. Between the demanding competition, operational costs, and the constantly fluctuating customer demand. You can be continually investing in the future of your business in order to remain ahead of rival companies. You deserve access to the funding that will allow your business to realize its full potential. Whether you need money to expand, invest in new materials and accessories, or marketing your business.
Click below to see different industries, business strategies, and how to get started.
History of medical cannabis used as a medicine dates back over 5000 years. Cannabis is the entire plant, where marijuana is made from the dried leaves. Hemp is made from the fibers of the stem, and oils are made from the seeds. Marijuana initially spelled marihuana is a nickname of Mexicans. After the 1910 Revolution immigrants flooded into the United States, The drug became associated with terrible crimes attributed to marijuana and the Mexicans who used it. During the Great Depression with massive unemployment and increased public resentment and fear of Mexican immigrants. Escalated public and governmental concern about the potential problem of marijuana. Congress passed the Marijuana Tax Act in 1937 effectively criminalizing marijuana. The federal government today still classifies marijuana as a Schedule 1 drug as having no medical benefits and a potential for abuse. Recent multiple studies have shown areas where legalize medical marijuana has higher rates of use, does not appear to reflect a cause and effect violent crimes or traffic fatalities.
There are very few sectors of our economy projected to grow by triple-digits. The cannabis industry was worth an estimated $7.2 billion last year, analysts are predicting the legal marijuana industry will grow 500% over the next five years. This industry is expected to produce nearly 300,000 jobs by 2020 and grow to $24 billion by 2025. Many cannabis hemp marijuana businesses need access to working capital for building expansion, growing equipment, security systems, extractors, security costs, and large overhead (including high electric bills). Marking a turning point for marijuana, both as a cultural movement and as an industry. Polls show a record percentage of Americans now favor legalization.
Legal history of cannabis in the United States, according to Wikipedia. Federal regulators now allow financial services to provide marijuana-related businesses operating legally under state laws. The rules and regulations in the Dodd-Frank Act, business loans through traditional banks and lenders can make it difficult . The US Treasury has relaxed rules because the Justice Department has agreed not to go after marijuana sellers in the states where it has been legalized as long as those businesses don’t trigger red flags such as selling to children or diverting cash to criminal cartels.
Cannabis use among older Americans is increasing, according to a report from the NY Times. More than 50 percent of Americans live in states that permit adult access to some form of legal marijuana. National Cancer Institute is now reporting preclinical studies show that cannabis may be able to kill cancer cells while protecting normal cells. According to a report published by NCBI, researchers examined the ratio of toxicity for a number of legal and illegal “drugs” including alcohol and tobacco. Discovered that marijuana was by far the least dangerous drug, cannabis was found 114 times less deadly than alcohol.
We offer loans bad credit loans, working with scores in the low-500 to mid-600 range. If there are major issues, please understand credit reports come in all forms, shapes and sizes. We will discuss ways steps to improve your report yourself and help you with organization. According to a report published by Credit donkey, the credit score average across the country for Millennials age 22 to 35 years is 634. Generation X adults ages 35 to 51 came in at 655. It also shows roughly 45 million adults don’t have any credit scores. United States Treasury reports denial rates have been roughly above 80% over the past several years with SBA lending. This is the truth, why most business owners can’t qualify for a small business loan through a bank.