Like businesses in any other industry, there may come a time when a cannabis company needs financial assistance. However, a cannabis company can’t get a conventional business loan from a bank or credit union. With cannabis still illegal on the federal level, most financial institutions are hesitant to extend financing to cannabis businesses, no matter how profitable or successful they are.
As a cannabis business, you still have options. Companies like Bespoke Financial offer a range of cannabis lending solutions. You can get the funds you need to run your business, meet your goals, and grow.
The Six Types of Businesses Bespoke Works With
From seed to sale, we work with businesses in all different areas of the cannabis industry:
As a cannabis cultivator, you’re at the start of the process. You carefully grow the high-quality flowers that manufacturers, brands, and retailers need. Cannabis lending solutions like invoice financing and inventory financing make it possible for you to continue running and scaling your business without cash flow disruptions.
Cannabis manufacturers are the ones that transform flowers into a variety of incredible products, including tinctures, concentrates, topicals, and more. Solutions such as inventory financing, invoice financing, and purchase money financing can increase your cash flow to support your processes and scale your operations.
3. Cannabis Brands
In an ever-growing market, cannabis brands have to work harder than ever to stand out from competitors. Along with providing consistent, high-quality products, you need to be able to meet customer demands. Financing solutions, such as invoice financing and inventory financing, can help you do just that.
Distributors are a crucial component of the cannabis supply chain. You’re the one responsible for delivering flowers to manufacturers or finished products to retailers. The right financing solutions can help you keep your fleet and your processes up to date.
Dispensaries need to keep their shelves stocked with a variety of high-quality products to meet growing customer demands. A dispensary loan can help you keep up with inventory needs, meet payroll, and expand your reach.
6. Ancillary Cannabis Companies
Even businesses that never touch a cannabis plant can have trouble obtaining traditional financing when they create cannabis accessories or other items for cannabis-touching companies. Inventory financing, invoice financing, and other solutions can help you get the money you need to market your products, meet customer needs, and grow your business.
How Cannabis Financing with Bespoke Works
Bespoke Financial’s cannabis lending solutions make it easier for all kinds of businesses in the industry to get the financing they need to run, scale, and thrive. We work with cannabis-compliant banking partners to provide you with the funds you need quickly.
When you apply, you’ll need to fill out an application and submit your most recent financial documents. Upon approval, you’ll receive a credit limit and financing fee based on your needs and risk profile. Lines of credit range from $100 thousand to $10 million. You can even increase your credit limit as your business grows.
Find Cannabis Lending Solutions for Your Business
With Bespoke Financial, you can find a cannabis lending solution to fit the needs of your business. Visit us to learn about your options and apply today.