The industry of cannabis, CBD, and edibles is becoming more popular each year as legal marijuana grows, and it’s never too early to get involved. But if you are thinking of starting a cannabis business or have already begun, there will come a time when you need to contact a cannabis lender for startup costs, expansion, your cannabis equipment, and more.

Obstacles to Cannabis Funding without Cannabis Lenders

Currently in 2022, there are 37 states recreational marijuana is legalized. We continue to see these numbers growing and efforts to decriminalize cannabis ramp up, so you would think that a cannabis business loan would be easy to acquire.

Unfortunately, that is not the case, as state laws are different. When it comes to cannabis at a federal level and federal laws, it is still considered an illegal Schedule 1 substance and therefore has a high risk associated with it from the lender’s standpoint of view.

Now that we know the difficulties of business owners working with traditional lenders, we can discuss the benefits of working with a cannabis lender and how it can benefit your cannabis business.

Benefits of Working with a Cannabis Lender

• Find the Loan You Need

Most importantly, cannabis lenders can provide cannabis financing options, working capital, and loans that go towards your business. While there are still things you need to come prepared with, such as a business plan and the correct cannabis licenses, cannabis lenders are specific to the industry, so you won’t have to worry about being denied solely because you are in the cannabis industry. We can provide business financing, equipment financing, cannabis real estate loans, and more.

• Understand the Industry

One of the things you may overlook when searching out a lender is their knowledge in your industry. Just because someone is willing to give you a loan or funding doesn’t necessarily mean they know what the businesses require.

It is important to find a lender that can help guide you and understand your different needs. We know what it takes to start, grow, and expand a cannabis business, and our team of lenders will keep you informed and give you all the options.

• Primary Focus

Cannabis lenders have one primary focus, and that’s your cannabis business! We are 100% focused on helping provide volume and demand for the cannabis market. Everything we do has the sole purpose of helping the industry grow and continue to work towards your success. Our expertise is unmatched, and we continue to stay updated on the ever-changing information within the industry.

What do Cannabis Lenders Look For?

When you are searching around for a cannabis lender, there are a few things you will need that can help them find you the right resources. Some of the most common things include:

• How much do you need to borrow for your canna business?
• Your credit score
• Experience in the cannabis industry
• What you are looking to use your cannabis loan for

If you’re a cannabis company that has been in business and is looking to expand, they also may need the following:

• Amount of time in business
• Your revenue for the last few months/year
• Any currently opened lines of credit

Having these items will help speed the process of receiving your cannabis financing and will save yourself some extra work!

Let Canna Business Resources be Your Cannabis Lender

With funding options from 50,000 – $15 million, there is a loan that is right for you with interest rates that work. We are also the exclusive lending partner with sites such as 420Loans  and 420Property. When you decide you are ready to start your marijuana business or expand, remember that Canna Business Resources is your most trusted source to apply for cannabis financing solutions.

If you plan on running a marijuana business, chances are you will need to understand the different strains of marijuana and the effects they have when taken. Being a business owner, having some idea of this is crucial so that you can provide quality training to your staff and help them be as knowledgeable as possible on the products. After all, you want your customers to make an informed decision and find the product that works best for them, and being able to lead your them in the right direction is quality customer service.  

Knowing these different strains of marijuana will also help you better understand your customers needs and which products are most popular. If one strain is in high demand, it’s important that you take that into consideration when purchasing the product you’re going to sell.  

What are the different strains of marijuana? 

When it comes to the different strains of marijuana, the two most popular are sativa and indica. There is even a third called hybrid, that contains both previously mentioned strains. When it comes to the differences in each strain, it has a lot to do with the effects they give off.  

• Sativa 

Sativa’s strain is known to produce an energizing, anxiety reducing effects. This strain is most commonly used for people who want to feel productive and creative, as opposed to relaxed. It also has a higher THC to CBD ratio, which results in stronger psychological effects.  

• Indica 

If you’re customers are looking for something a little more relaxing, have them try a product derived from Indica. Indica is popular for its intensely relaxing effects, which can also help reduce pain and nausea.  Indica has a lower ratio of THC to CBD but doesn’t necessarily mean that the THC levels are lower.  

• Hybrid 

A hybrid product is exactly what it sounds like. It is a mix of both sativa and indica and can have varying degrees of effect. To get a better understanding of what the product will do, it is best to understand if it is sativa dominant, indica dominant, or balanced.  

There are more strains of cannabis and different ways to promote it, but these three types are going to be what are most commonly sold in different dispensaries. Once you understand what type your customers are looking for, it can make it easier for you to promote certain products and keep extra stock on hand.  

What Strain should my business focus on? 

After learning about each strain and what effects they have, you may be wondering which route your cannabis business should take. If we are being completely transparent, we think your company should focus on having all of these options available!  

We know that your customer base will probably have a favorite or a strain that is more popular, but these strains have different effects and tailor to each individual customer. A lot of people like to purchase both indica and sativa strain products, so having both allows them to do their shopping all in one place. While the decision to sell certain products is completely up to you and your team, we think you can benefit from carrying these different products.  

How to Expand Your Cannabis Product Offering 

Just like any other industry, the cannabis industry is constantly evolving and coming out with new products and strains. To expand on your current cannabis offering, you will want to stay up to date with new trends, recently launched products, and cannabis news in general. You never know when something will pop up.  

If you’ve found a cannabis product you want to add to your offering but are struggling to find the funds to make it happen, it’s worth starting a conversation with one of our cannabis financing experts here at Canna Business Resources. Don’t get caught falling behind the competition when it comes to products, stay ahead of the game with cannabis loans that can help pay for equipment, stocking costs, and any other part of the business you may need a little assistance with.  

 

In recent years, ecommerce stores have become much more popular to buyers of any product. Recently, there has even been an increase in online sales because of COVID-19 and the lockdowns that ensued. Many businesses have adapted to this new way of life, creating online shopping centers to support their storefront sales.  

Cannabis companies are no different, with dispensaries offering online cannabis ecommerce sites. There are some differences in how cannabis ecommerce works, though, that make the starting one a little more difficult.  

What is Cannabis Ecommerce? 

Cannabis ecommerce is an online cannabis store where customers are able to view products and place an order. Ecommerce stores give users the ability to look at different products, compare pricing, and get a full understanding of what they are looking for in their cannabis purchase.  

Online cannabis stores also give businesses the ability to cast a wider customer net. There may be people who don’t want to drive to a dispensary without knowing the product. Having all the information available online gives people the information they need so they know you have what they are looking for.  

Is it Legal to Sell Cannabis Online? 

Yes, it is legal to sell cannabis online, but customers are not allowed to complete the transaction and pay for their orders. Because the Federal Government still sees marijuana as a Schedule 1 drug, most credit card companies and banks will not authorize purchases online. Instead, users will place an order for cannabis and pay when they receive it.  

Opening a Cannabis Ecommerce Store 

As it currently stands, cannabis can be sold online. Customers are allowed to place orders online for edibles, flower, and other cannabis products, but there is currently no shipping available from your normal deliver services (UPS, USPS, FedEx, etc.). This is the biggest difference between cannabis ecommerce and ecommerce for other industries. 

There are two options for customers when they order their cannabis online. The first option is to place their order in the ecommerce store and pick it up at the dispensary. While this doesn’t seem like it’s necessary to have an ecommerce store for this, it’s actually very beneficial to the customer. Placing the order online gives the customer time to look through the products without feeling rushed to make a purchase. It also speeds up the time they are at the dispensary because their order is already prepared, which is great for customers who are always on the go.  

The second option is to have the customer place the order online and use a cannabis delivery service to delivery the product. Cannabis delivery services are only in a few select states, so you will need to research and understand if there is opportunity for your dispensary to take part in this. If your state has cannabis delivery services, cannabis ecommerce can be a great benefit to your dispensary.  

What do I Need to Start an Online Cannabis Store? 

First and foremost, you will need a website to start your online cannabis store. If you don’t have this yet, you will want to build one out or hire someone to help you. Your site will also need to be equipped with an ecommerce solution that allows your site to create products online that people can order. Once you have everything that you need set up online, there are a few other tasks you will need to either do yourself or delegate to your employees. 

As your business begins to get orders, you will need someone to monitor these orders and fulfill them when they come through. Make sure you plan ahead for your ecommerce launch, too. This may be expanding your current location to house more product, or just having more product than normal to account for the increased demand.  

While launching an ecommerce platform for your cannabis does require some work, it can pay off in the end if you keep your product up to date and provide great customer service. If you’re looking to expand your current operations but don’t have the financials to make it happen, talk with one of our cannabis lending experts to see how we can help! 

It’s no secret that homeowners everywhere are feeling the struggle of the real estate market, but it’s also been affecting how some companies do business and reducing their opportunity for expansion. It can be even harder in the cannabis industry since there are so many rules and regulations around cannabusinesses.  

Difficulties Securing Cannabis Real Estate 

If you find yourself in the tough situation of looking for property for your cannabis company, take a look at what could be happening, as well as where to locate cannabis real estate near you.  

High Pricing 

The real estate industry has recently been seeing an increase in average prices overall. Something that may have been within your budget or reasonably priced for your company could now be worth much more. Increased prices are also causing buyers to overpay for real estate, which could in turn be a bad financial decision for your company. 

If expanding on your current operations is an option, you may be faced with similarly high prices. Because the real estate industry is so hot right now, purchasing materials and paying for labor is also more expensive. While it still may be cheaper, depending on the size of the expansion, your budget may need to be increased if you want to stick to your original plan.  

If you have a set budget for expansion or building or adding to your current location, make sure you can afford to increase that number before making any rash decisions. If you need more capital, you can apply for a cannabis real estate loan with Canna Business Resources. The financial help you receive from a cannabis lender may be what you need to get your project done or new real estate purchased.  

Increased Demand 

Another reason it may be difficulty to acquire new cannabis real estate is the demand. The marijuana industry is making huge strides in popularity and is only getting bigger. More and more people are looking to open dispensaries, manufacturing facilities, and growing facilities. Cannabis real estate is quickly selling, and new businesses are popping up throughout the United States.  

A great way to combat the increased demand is to plan out and have everything ready for purchase. You should know your budget, general location, and have any documents you may need for purchase readily available. If you find the perfect location, but take too long to act, chances are it will be gone. 

Difficulty Finding Cannabis Real Estate 

If you’ve never purchased cannabis real estate before, chances are you might not know where to find it. There are certain laws and regulations that cannabis businesses need to follow, so it can be more difficult than just finding any open building. The cannabis industry is still fairly new, too, so there aren’t as many options out there as other industries.  

Where to Find Cannabis Real Estate 

If you a business owner looking to expand upon your current operations or someone looking to start a cannabis business, the best option for finding real estate is 420property. They are an online marketplace for all things cannabis real estate. They have been featured in sites like The New York Times, Marijuana Business Daily, and Yahoo Finance, and are the leading resource in cannabis real estate. With the help of 420property, you can trust that you will find what you’re looking for.  

Canna Business Resources and 420property also have a unique partnership when it comes to the cannabis industry. With the help of 420property and Canna Business Resources, you can solve your cannabis real estate needs by finding different locations and apply for financing to help ease the financial burden. Cannabis real estate loans can be extremely beneficial, especially in these times when the market is so hot.  

The more time we spend at home, the better, right? Almost everything these days has a delivery service. From your groceries, meals, to anything you can find on Amazon. Industries have adapted to this new style of living and it’s no different for the marijuana industry. In the United States, there are a few states that allow for cannabis delivery and new cannabis delivery services are popping up. But what are they? And what can you do to get in the game? 

What are Cannabis Delivery Services? 

Cannabis delivery services are companies that deliver marijuana products right to your door from a dispensary. Think of them like DoorDash or GrubHub, but for cannabis products. Cannabis delivery services help you get back time in your day by not having to travel to your nearest dispensary and can be efficient for people who don’t have enough time in their day! 

Where can I Start a Cannabis Delivery Service? 

As recreational marijuana is becoming legalized, the rise in these cannabis delivery services is bound to increase. As it currently stands, there are only six states that allow adult-use recreational marijuana delivery. So, these states would be the best place to start, or at least begin researching the industry.  

California, Oregon, Maine, Nevada, Massachusetts, Michigan 

I know that’s not a lot of opportunities to get in the business, but there is another option. Medical marijuana delivery has a few more states where you can begin. While recreational marijuana delivery is only allowed in 6 states, medical marijuana delivery is available in 12 states. In addition to the states above, medical marijuana delivery services can operate in –  

Arizona, Florida, Maryland, New Mexico, New Jersey, North Dakota  

How to Start a Cannabis Delivery Service 

Now that we’ve talked about what a cannabis delivery service is, its time to get started on organizing your own cannabis delivery company! The steps to creating a cannabis delivery service are similar to if you were starting a dispensary or other cannabis company, but we’ve laid out some of the main things you will want to prepare for.  

• Build a cannabis business plan 

You’ve probably heard us talk about this cannabis business plan before, but that’s because it is extremely important. Having a good business plan shows lenders that you are serious about your venture, and it also helps you stay organized and stick to a plan! Make sure that your business plan will prove to the lenders that your company will be profitable.  

• Make sure you are licensed and understand the laws 

This is another step you can not miss. Because cannabis delivery services are not yet legal everywhere recreational marijuana is legal, it can be difficult to keep track of. Make sure you understand the laws in your state, as well as the surrounding states.  

Breaking the law could result in fines, or worse. Take the time to do your research and pick a location where there is opportunity for cannabis delivery.  

• Know what you need for equipment and delivery service 

Before you get started, you will need to know what types of vehicles you need for the cannabis delivery service, as well as understanding the logistics of how to deliver the product. It may not be the best idea to purchase vehicles with branding, so that the customers using your service can discreetly place their orders and get them delivered. Having a branded car could also increase the risk of theft and put your drivers in dangerous situations.  

Part of understanding what you will need for your business comes with providing a detailed business plan. So, make sure you are as thoughtful as possible when building it out, that way you have a good idea before you even get started.   

• Begin delivering cannabis! 

Once you’ve got everything in line and your business is up and running, it’s time to start working! Cannabis delivery services require a lot of detail and planning, so once that is all complete, you can start enjoying your hard work. While your business is running, continue to watch out for changing laws and regulations. It may be opportunity to expand your business, and in some cases may negatively affect your business. Either way, you will want to stay in the know. 

Whether you’re a new dispensary or someone who has been providing marijuana products for a while now, there are some best practices that you may need to know when operating your business. We know that not every single company runs exactly the same, and what makes one successful does not mean it will work for everyone. But that is what is unique about the tips and best practices we will discuss today. Most of them can be taken and applied directly to how your dispensary operates.  

These may be best practices that you are already doing, or are attempting to do, but we can hopefully provide some insight and a different way of thinking. After working with countless dispensaries and understanding their business models, these are some of the things that the most successful dispensaries are doing.  

Helpful Hints to Running a Dispensary

Install an ATM Machine 

Cannabis is still considered to be a Schedule I drug according to the Federal Government, so the cannabis industry continues to struggle with different bank laws. To make it easier for your customers that come to your dispensary, offer an ATM where they can get cash out.  

If new customers aren’t as familiar with the rules and they don’t bring cash with them, they may find themselves in the unfortunate position of not being able to pay or having to leave and find an ATM elsewhere. When people know that they can take out money right as they walk into your facility, they may be more likely to purchase at your dispensary.  

Manage Your Cannabis Inventory 

One of the toughest things dispensaries have to deal with is managing their cannabis inventory. If you have too much product at your facility, it takes up valuable space in your storage, and could even end up costing you money. Having too much inventory also increases the risk of providing your customers with outdated products if you aren’t selling it fast enough.  

On the other hand, having too little of inventory can cause you to run out of specific products and result in unhappy customers. If you need to express ship in product for quick delivery, it will end up costing you more money and your margins won’t be as high on the product.  

While we don’t have the exact answer to solve this problem, but one of the best things dispensaries can do is monitor sales of each individual product. As a dispensary, you should know what your most popular products are, as well as the products that maybe don’t fly off the shelf as quick. Understanding the popularity of your products will help you when placing your orders to the distributor.  

Learn From Your Customers 

This may be one of the most important things that every company should do. Your customers are the ones who experience what your dispensary has to offer. While many people have their own thoughts and ideas, if your facility is providing a positive experience, then people will generally have good things to say.  

If most people are having a bad experience, though, they will provide that feedback in their reviews too. Nobody wants to hear bad news or that they aren’t doing a great job, but as a company, you need to have thick skin, and instead of getting upset or ignoring it, you should be finding a way to solve the issue. If people see that you are taking their feedback seriously, it may provide some respect from your customers and even people who had a bad experience may be willing to give you another try.  

Make sure that you are looking at your Google reviews, as well as any other sites that provide customers the chance to review your business. Even taking the time to respond to reviews is something people will appreciate!  

Hire the Right Staff 

Make sure you are hiring people who have the same goal in mind for your dispensary and match the energy level that you want your organization to have. People who come to your dispensary will most likely remember the customer service your employees provide. Even if a customer loves everything about your dispensary, it can all be ruined if an employee is rude, unpleasant, or disrespectful. When you hire people that are committed to the business and you treat them right, you know your dispensary will be in good hands.  

We’ve talked about a few different ways we think you can improve your dispensary, but its up to you to take action. Make sure you are doing everything you can to run a successful business, and if you need help financially, Canna Business Resources is here to provide insight, business loans, and advice.  

Many business owners and entrepreneurs are taking advantage of the booming recreational marijuana industry but may not know the market for medical marijuana is continuing to grow as well. Legal medical marijuana has been around longer than recreational, but it continues to be a need for patients as we learn more about the benefits. It may provide more opportunities to begin working in states that haven’t legalized recreational marijuana, since the laws and regulations are different between the two.

If you are looking to tap into the potential of medical marijuana, we’ve answered some of the basic questions you have about the industry, as well as how to get started with a medical marijuana business.

What is Medical Marijuana?

Medical Marijuana is defined as medical cannabis and cannabinoids that are prescribed by physicians. This means that the user of the cannabis needs to have medical clearance from a physician to obtain it, and can not get in trouble of possession as long as they are following the laws and can provide a medical marijuana card.

Medical marijuana is similar, if not the same, as recreational cannabis, but it is taken for medical purposes. Some of the most common conditions medical marijuana is used for are:

• Chronic Pain
• Seizures
• Epilepsy
• PTSD
• Nausea and Vomiting due to Chemotherapy

According to WebMD, medical marijuana has not been proven to help all these conditions, but there is some evidence for the therapeutic effects of cannabis for a few of these conditions. It is best to speak with a health professional before pursuing any kind of treatment with cannabis.

Where Can I sell Medical Marijuana?

If you are in the business or looking to get in the business of selling medical marijuana, there is a little more flexibility as to where you can sell and in which states. Medical marijuana is legal in 37 states in the United States, compared to only 19 states having legalized recreational marijuana. Still, just like with recreational marijuana, you need to have all the correct license in place and have a good understanding of the marijuana laws in your state, as well as the states around you.

Below is a map that shows each states marijuana legality. If you want to learn more about the specific laws and even how they handle out of state medical marijuana, you can visit the NCSL website.

How to get Started in the Medical Marijuana Industry

If you are looking to get started in the medical marijuana business, the steps can be very similar as the recreational marijuana business, which you can read more in depth about in our starting a cannabis business guide. But to simplify it, we’ve laid out some of the most important steps here as well.

• Prepare Your Cannabis Business Plan 

This step is extremely important when looking to start a cannabis business. Preparing a detailed business plan shows the investors that you are serious about your venture, and you should be able to show them that your company will be profitable.

• Register Your Cannabis Business and Get Licensed 

When you register your cannabis business and fill out a cannabis license application, you are one step closer to opening your new business. Making sure you have all the correct licenses and knowing the rules can be make or break for a lot of companies, and if you are found without the correct documentation it could mean hefty fines.

• Find Financing for Your Cannabis Business 

Last, but definitely not least, is finding cannabis business loans you can use to help get your company up and running. Opening any business is expensive, and the cannabis industry is no different. Cannabis lenders, such as Canna Business Resources, can help you find the right business loans that work for your company. Instead of making one large payment for things such as new equipment or cannabis real estate, loans help break out the payment into smaller monthly plans.

Keep in mind that there is no perfect way to open a business, and your business plan should be unique to you! No matter how you decide to approach it, finding cannabis loans can help reduce the stress and financial burden it takes on new business owners. If you aren’t sure what you are looking for in terms of financial relief, you can speak with one of our experts. We have the knowledge and industry expertise to find you exactly what you are looking for.

Marijuana Legality

Marijuana, CBD, edibles, and many other cannabis infused products are becoming extremely popular among individuals around the United States. And if you are a business owner in the cannabis industry, it’s extremely important to keep up on each states legality and regulations.  

To help make it easier, we’ve compiled a list of states where marijuana is still illegal, where marijuana is legal for medical purposes, and where both medical and recreational marijuana are legal. We will continue to update this post as more states become legal and more information is found.  

States Where Marijuana is Illegal 

Even though marijuana, both medical and recreational, have been gaining popularity, there are still some states that have yet to jump on board. Of those states, here are the ones where marijuana is still illegal. 

• Idaho 
• Kansas 
• Nebraska 
• South Carolina 
• Wisconsin 

There are also some states where medical marijuana is legal, but in very small amounts. This could be either a limit on high-CBD or low-THC products. You can learn more about each of these states particular laws on here.  

• Georgia 
• Indiana 
• Iowa 
• Kentucky 
• North Carolina 
• Tennessee 
• Texas 
• Wyoming 

States Where Medical Marijuana is Legal 

Medical marijuana was one of the earliest forms of marijuana to become legal, and most of the states allow at least some form of it. Below is a list of all the states where only medical marijuana is legal, and not recreational marijuana.  

• Alabama 
• Arkansas 
• Delaware 
• Florida 
• Hawaii 
• Louisiana 
• Maryland 
• Minnesota 
• Mississippi 
• Missouri 
• New Hampshire 
• North Dakota 
• Ohio 
• Oklahoma 
• Pennsylvania 
• Rhode Island 
• South Dakota 
• Utah 
• West Virginia 

It is yet to be seen if these states will begin allowing recreational marijuana to adults, but we will keep a close eye on them and adjust this list when necessary! 

States Where Recreational and Medical Marijuana 

Finally, we have the states where both medical marijuana and recreational marijuana are legal. These states have become a destination spot for cannabis users who look to take part in recreational marijuana, especially if their state does not have the offering they are looking for.  

• Alaska 
• Arizona 
• California 
• Colorado 
• Connecticut 
• Illinois 
• Maine 
• Massachusetts 
• Michigan 
• Montana 
• Nevada 
• New Jersey 
• New Mexico 
• New York 
• Oregon 
• Vermont 
• Virginia 
• Washington 

As you can see, the legalization has become more popular, but there are still states out there you need to be cautious with when running a cannabis business. If you are found breaking the law in your state or a neighboring state, the fines could be substantial, and could even cause you to lose your business. Don’t take any chances. Read up on marijuana laws so you have the most up to date information as possible.  

The Nevada Cannabis Control Board (CCB) on June 28^th approved regulations for cannabis consumption lounges which could allow businesses to allow on-site use by the end of the year.  The board indicated that it plans to award the first licenses for on-site consumption in the fall.

Nevada Launches Cannabis Lounge Regulations

Within Nevada cannabis lounges, use will be limited to 3.5 grams of “usable cannabis”, and patrons may not take unused cannabis products with them when they leave the lounge.  Rooms designated for smoking must be inside designated areas and outdoor lounges are also an option.

Social use provisions were approved in Nevada in 2019 and the CCB sent letters to retail license holders in 2021 indicating that retail cannabis license holders were eligible to apply for a consumption operation.

Canna Business Resources Provides Financing for Cannabis Lounge Expansion

In response to this long anticipated ruling in Nevada, Canna Business Resources had been working with a client to acquire a suitable property with which the operator could vertically integrate its existing cultivation operation into a retail store with attached lounge.

The property, on the outskirts of Las Vegas, had been under negotiations with Canna Business Resources’ client for the past three months.  Thanks to CBR’s flexibility and unique structuring, the operator was able to facilitate a real estate acquisition and working capital to build out both a retail facility and cannabis lounge.

The site, a modest facility on the outskirts of Las Vegas proper, intends to be home to this cultivator’s first retail outpost and just a stone’s throw away from the Las Vegas Strip.  The retail and lounge experience, which is new in the cannabis community in the United States, is part of the operator’s long term growth plan.  Although cannabis lounges today are relatively limited in size and scope, with regulatory restrictions focused on “testing the waters,” Canna Business Resources’ client intends to use this new facility as a jumping off point to open several in the state of Nevada and in additional markets that continue to welcome cannabis lounges in the future.

Canna Business Resources Structures Real Estate and Working Capital Loan

To help our client in Nevada, Canna Business Resources provided $3.5 million in loans, consisting of a $2.5 billion in real estate acquisition and $1.0 million for working capital needs.  The working capital needed for the facility included tenant improvements, furniture and fixtures, personnel, and inventory. The loan was structured at a 75% Loan to Value ratio with a three year-term and interest only component.  The cannabis real estate loan has a three year balloon.

The interest only real estate loan is specifically for entrepreneurs acquiring and developing real estate properties for cannabis licenses that take time to acquire, develop and generate profitability.

CBR has a proven reputation as a long-term capital partner.  CBR’s cannabis real estate loans are structured to maximize success and development longevity.

Contact Canna Business Resources for a quick initial indication of financing availability to see how CBR can provide an interest only term loan for your cannabis operation.

 

The cannabis industry has seen a huge increase in interest with states making legalized marijuana products and services more accessible. The opportunity for cannabis businesses to profit and increase sales continues to grow, and it doesn’t seem like it will slow down any time soon.

If you are one of the cannabis entrepreneurs who is looking to get starting in a new business venture, we have some advice. Keep in mind, starting a new business is never an easy task with any industry, and the cannabis industry is no different.

Tips for Cannabis Entrepreneurs

• Know What Type of Cannabis Business You Want to Start

Cannabis companies can now be expanded to include supply chain, marketing, product sales, and more. So if you think that you have to do what everyone else is, its not true! Understand what your company will do and how it will best support the cannabis industry, and you can be on your way to running a successful cannabis company.

• Understand What it Takes to Open a New Business

Opening a new business comes with plenty of challenges, and one of the things you need to make sure you have are all license and regulations. When it comes to cannabis, each state has its own laws, so not only do you need have an expansive knowledge of the cannabis laws in your state, you will need to be familiar and understand the regulations each state around you has.

Knowing what is happening around you and understanding the rules can minimize risk for your new business. If you are caught doing something you shouldn’t, even if by accident, your business can be fined or shut down.

• Take Advantage of Internet Resources

Even if you have previous experience opening a new business, chances are you will still have questions at some point. There is no set way on how a business runs or the challenges that it can produce.

One of the best resources you can use to combat these challenges is the internet. Doing a simple Google search for the problems you are having can be a great way to solve challenges that other people may have experienced themselves.

Another option is to use sites like Reddit or Quora where you can ask specific questions and get feedback from other users. This is a great use of time if you have a question that isn’t very common, or you can find answers to.

• Know What Cannabis Loans and Business Financing You Will Need

              Like we’ve mentioned before, staring your own cannabis company will not be cheap, and even if you think you have the capital to get it up and running, there will be more extensive costs in keeping your business open. There may come a time when you need financial help but won’t be sure where to go. Traditional banks still won’t lend money to cannabis companies, as marijuana is still considered a Schedule 1 drug by the Federal Government.

This is when you will need to turn to a cannabis lender for help. Cannabis lenders, such as Canna Business Resources, are extremely knowledgeable in the cannabis industry and can help you find cannabis loans that work around your budget. Cannabis loans can help with cannabis equipment financing, paying employees, expanding on your current business, and many other things.

Starting a cannabis business should be exciting, but don’t be fooled, it’s a lot of work. Make sure you have a good run down of what it takes and remember that cannabis lenders are there to help you succeed. If you find that you are in need of cannabis loans or just want to learn more information, you can schedule a free consultation to speak with one of our experts.