National Business Capital & Services, announced the release of an industry-leading CannaBusiness Financing Solution.
The CannaBusiness Financing Solution will empower ambitious cannabis entrepreneurs in the fast-growing $10 billion industry to access resources they need to grow their businesses, tearing down industry lending barriers that previously led to the inevitable denial of applications by traditional banks. Although medical marijuana is legal in 33 states, and recreational marijuana in 11 states and Washington D.C., federal law continues to prevent traditional financing institutions like banks and credit unions from offering their products to even the most successful cannabis businesses. Many cannabis entrepreneurs instead resort to angel investors, venture capitalists or private equity—who offer immediate access to capital— but sign away significant long-term profit share in the process, forcing emerging businesses to relinquish control of business revenue and operations to scale to the next level.
The revolutionary CannaBusiness Financing Solution offers an industry-first solution for cannabis entrepreneurs accustomed to encountering roadblocks, offering fast financing suited to accomplish any goal, without giving up equity. This game-changing new program is available to all market subsets, including:
- Biotechnology
- Cultivation, growing & farming
- Hemp & CBD products
- Marijuana products
- Consumption devices
- Cannabis-specific marketing and business development agencies
- Other ancillary cannabis companies
The CannaBusiness Financing Solution can help cannabis companies seeking financing for business growth, provided their business model is in compliance with state laws.
Joseph Camberato, President of National Business Capital & Services said, "The Cannabusiness Financing Solution will allow business owners to seamlessly obtain the capital they need, and allocate funding toward either hiring new employees, purchasing inventory, marketing strategies, or any other business need right away, without government regulations hindering growth opportunities or having to give up equity."
Qualifying cannabis companies must be in business for at least 1 year, with a minimum of $10K in monthly revenue. There is no minimum FICO score requirement.
The CannaBusiness Financing Solution follows National's breakthrough eQuickment Financing Product, which offers business owners seeking equipment financing approvals in less than an hour.