With the legalization of cannabis steadily increasing in states across the country, more and more investors are looking to be part of this green gold rush. Even with an industry valued at $10 billion, not being entirely legal means banks will still have trepidation when it comes to funding. Regardless of the unprecedented high demand for the product to get up and running and sustain a cannabis business, entrepreneurs will still be in need of start-up capital. These expenses include growing and harvesting the product, setting up a dispensary (which means construction costs), payroll for your sales and support staff, and even working with third-party vendors to develop edibles. Basically, for this type of business to grow, you need a constant cash flow.
With traditional lenders basically out of the picture, cannabis entrepreneurs can still turn to online financing as a viable option. Just keep in mind that an optimal lender should be knowledgeable of the industry, be expedient when providing capital, and flexible with the total loan amount—not to mention these other factors:
Within a few days of working closely with Upscale Capital, the funds were transferred.
Each question or concern I had was always answered in a timely manner. The company has a high level of professionalism.
I now have my preferred source of capital and I can feel relieved that I have a partner always alongside me.
The entire process takes just 2 minutes with no fee.
92% of the applications submitted are approved within 24 hours.
Funds are deposited to your bank account within hours of approval.
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