Getting financing for business expansion can be challenging for emerging industries, like cannabis. The industry is illegal under U.S. federal law, so financial institutions complying with federal law won’t lend money to industry players. Banks that will finance cannabis charge substantial fees for the service. Canna Business Resources is a privately funded, specialized debt fund for the cannabis/CBD industry offering customized financing solutions. CBR is the only cannabis lender that can lend to all asset classes whole providing unsecured financing. The financial experts at CBR understand how important it is to have the funds to move quickly with expansion plans and beat the competition. It provides funding up to $15 million as a bridge to an equity deal or as a working capital facility.
- Cannabis businesses wanting to expand operations
- Cannabis businesses that need a working capital boost
- Large and small loans from $50,000 to $15 million
- No collateral required for working capital finance
- Revolving credit on accounts receivable and invoice financing
- Loans customized to the needs of the business
- Not available to cannabis companies outside of the U.S. and Canada
- No funding for start-ups
Canna Business Resources Ratings at a Glance
Canna Business Resources offer cannabis organizations term loans ranging from $50,000 to $15 million, turning around loan applications in 24 to 48 hours. Loan terms can vary between four and 18 months.
As new as the cannabis industry is, Canna Business Resources has been extending loans to businesses in the industry for the past 10 years. The company is present across the U.S., serving in all 37 states where cannabis is legal. Canna Business Resources also serves the Canadian market.
Last year, Canna Business Resources provided businesses with cannabis financing of $100 million, and management plans to improve on that this year. Let’s have an in-depth look at what Canna Business Resources has to offer.
Getting a loan from Canna Business Resources is quick and easy. Borrowers complete a free term sheet to see how much they can borrow. They then undergo a 15-minute consultation with a financing professional. CBR is a direct lender so they structure the loan to the needs of the business. Only U.S. and Canadian firms qualify for loans from CBR.
- Working capital finance: Canna Business Resources assists businesses in the cannabis industry with working capital finance. These term loans require no collateral. It is rare for a company in this industry to offer loans without collateral.
- Cannabis real estate financing: Looking to expand? You can use a real estate financing loan to refinance your cannabis business, build additional production or warehouse facilities and expand your business. Canna Business Resources offer terms of between 12 and 36 months.
- Cannabis dispensary financing: Getting your dispensary up and running will cost anything from $150,000 to $2 million. Unless you have upfront funds, your business plans won’t take flight. CBR can help with the money you need to get your business out of the starting blocks
- Cannabis equipment financing: As your business expands, you will need more equipment. CBR offers equipment financing at reasonable interest rates tailored to individual business needs. Loans run from $100,000 to $15 million and can extend over 12-to-18-month terms. The company offers cannabis financing and lease agreements where CBR owns the equipment.
- Accounts receivable invoice financing: Don’t let cashflow problems reduce your options. CBR offers AR and reverses AR invoice financing. You need no collateral to use the revolving credit option. The financing works on a 30-day rolling system and offers amounts between $250,000 and $15 million.
The customer service department is manned five days a week, and, by all accounts, employees are efficient and polite.
As with any loan, you will have to cover the legal and administrative costs relating to the loan. Interest rates are based on risk. Every loan is tailored to the needs of your business. You will have to negotiate the interest rate you pay with your financial advisor when you apply for the loan.
Canna Business Resources uses proprietary underwriting software, the platform cornerstone and focal point of CBR’s investment committee. The borrower-centric platform offers clients flexible services and a client-centered approach that ensures seamless administration and a quick and painless loan approval process.
Before structuring the loan, the financial experts at Canna Business Resources carefully analyze client company cashflows to tailor the product to your business requirements. It understands that every business is different, and it has a vested interest in your business's success.
Canna Business Resources is a specialist lender with a quick and efficient loan application process. It offers personalized services and loans tailored to the organization’s financial needs. It also provides accounts receivable loans to help businesses overcome cashflow problems.
Canna Business Resources vs. Competitors
The cannabis industry is still in its infancy. As a result, few financing companies specialize in cannabis. Yet cannabis is a product like no other because of the stringent regulations that govern the cannabis industry. Dispensary financing is complex with distinctive requirements, and cannabis financing is best left to the specialists.
| Company | CBR | Finance Factory Business Loans | Casa Verde |
| Cannabis industry players | Specialist cannabis private lenders | Take on high-risk businesses including cannabis | Ancillary cannabis industry |
| Loan amount | $15,000 to $15 million | $5,000 to $500,000 | Undisclosed |
| Products | Real estate Working capital Equipment Invoice financing | Loan Advances Equipment finance Lines of credit | Venture capitalists Funding start-ups |
Frequently Asked Questions
How much is a grower’s license?
License prices differ from a Class A license at $1,200 to an excess marijuana license at $24,000. If you want to know how much a grower’s license will cost, you must determine what license you need.
How do I open a dispensary?
Opening a dispensary is complex and costly. You must meet the stringent requirements of each state where cannabis is legal. A legal practitioner can help you with how to open a dispensary.