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.

 

Today’s job market is extremely competitive, and a lot of companies are struggling to find the perfect employees, and it’s no different with the cannabis industry. No matter what type of cannabis company you are operating, hiring new employees to keep up with customer demand is huge.

The cannabis industry is continually growing, so make sure you have everything, and everyone, in place to succeed. Businesses can’t run without good employees. Make sure you are doing everything you can to hire the right people and retain employees with your company culture.

How to Attract and Retain Top Talent for Your Cannabis Company

While we can’t guarantee that we have all the answers, we do have some best practices you can use when looking to hire new employees for your cannabis business.

• Have a high value job posting

This is the first step in hiring great employees. Take the time to lay out the details of the job and show potential applicants what they will be doing. This also helps you better understand what type of person and set of skills you are looking to hire for. If your job posting is too vague or not detailed enough, its going to be hard to determine if applicants are right for the position.

• Recruit from multiple channels and different industries

Just because you are looking for someone to work at your cannabis business, doesn’t mean that they must already be working in the cannabis industry. Depending on the type of job posting, a lot of skills can be transferable between careers, such as customer service, sales, accounting, and more. Take the time to really look over the applicants resume and see if the skills they’ve acquired in their current or previous positions would translate to the cannabis industry.

• Experience isn’t everything

When it comes to the employees you are looking to hire, there are a lot of skills that don’t show up on a resume. Just because someone doesn’t have a lot of experience in the workforce or in a specific job role doesn’t necessarily mean that they can’t do the job. As a hiring manager, you should look for intangible skills like leadership, communication, dedication, and strong work ethic.

You never want to miss out on the perfect applicant just because they may be lacking some experience. Take the time to meet face to face or have phone conversations to really get to know what kind of worker they are.

• Provide high-quality training

Once you’ve found the right hire, its important to get the up to date on how your operations run, no matter how experienced they are. Companies run differently, and you want the new hires to be as knowledgeable in the new process as they can be.

Not only does having high-quality training benefit your company, but it is extremely helpful to the new hire as well. Having the proper training in place shows the new employee that your company is dedicated to a process and gives them the confidence to do their job correctly.

• Cannabis loans help with paying employees

Once you’ve hired the perfect employees, you then must make sure you are compensating these great employees with a fair pay. Running a cannabis company isn’t cheap, so having enough capital to pay your employees can be difficult, but you can help ease the pain by working to get a cannabis business loan.

With the help of cannabis business loans, you can provide a great pay while also tackling the everyday expenses of running a business. Cannabis business loans can be used to help pay your employees, which can help increase your employee satisfaction and retention.

If you find that your business could benefit from a cannabis business loan, contact us today and we can help. Working with a cannabis lender like Canna Business Resources can be an extremely helpful too, and we will listen to your needs and find a loan that works within your budget. Don’t let great potential employees walk away just because of financial issues, talk with us and keep your business growing.

It was not that long ago when cannabis was struggling with the battle of legal or illegal status. After so many amendments and legislation of farm bill 2018, legal cannabis is one of the fastest-growing industries. With immense popularity and unprecedented growth, you might be wondering how the market is doing and where we are at today.

Cannabis Business History

The outbreak of legalization started in 1996, California’s passage of medicinal cannabis measure Proposition 215 and ended in 2012 with Colorado and Washington’s legalization of recreational cannabis. Now, marijuana is legal in 39 states of the U.S. for medical purposes, while in 19 states for recreational uses for adults 21 and older.

Further, 27 states have decriminalized small amounts of cannabis, allowing a certain amount of cannabis possession that breaches the law will lead to a civil charge.

The cannabis industry has turned from a black-market to a mainstream industry just in the short time of 20 years, and still, the industry is in its early stage.

The federal government still keeps cannabis as a Schedule1 controlled substance even though it grabbed the mark of $20 billion by the early 2020s. Even though the federal government has its own set of laws, the cannabis industry has a huge rise in its prominence.

The Department of Justice published a letter in 2013 known as the Cole Memorandum that restricted the federal government’s interference in state regulatory cannabis operations. The missive was later canceled in 2018 by the former U.S. Attorney General Jeff Sessions, but the industry didn’t stop growing.

Undoubtedly, the federal government continued creating obstacles; even then, the legal cannabis industry kept flourishing. According to the New Frontier Data analyst, the cannabis industry’s worth was $10.4 billion in 2018 that will be bloomed to $26.3 billion in 2025.

The industry is filling up so many gaps already, and there is a projection to see the impulsive progress in the cannabis industry in coming years.

Current State of the Cannabis Industry

In 39 states across the country, marijuana is legal for recreational or medical purposes. At the same time, there are still some parts of the USA where Marijuana is entirely illegal. This amendment in the status of marijuana has increased its popularity and demand. It opened the way for businesses to opt for cannabis startups.

According to Fortune Business Insights, the cannabis industry had growth of 50% in 2020, with a market size of $20.47 billion. The demand for legal marijuana has been increasing in the recent years and saw a spike during the pandemic. They also believe that the market is set to grow to $28 billion by the end of 2022, and even higher by 2028.

Starting a New Cannabis Business in 2022

While commencing any business, this is very important to see and understand the entire framework of the industry, where it is lying in the current scenario, the future exposure of this business, what risks are involved, and the earning potentials.

In the cannabis business, you wouldn’t find a rich history as the industry has faced many decades.

To start and learn the essential steps of starting a cannabusiness first, you must consider the status and demand of marijuana in your targeted area and how you can outclass your competitors by providing the same products and services. With more and more popularity and clearance of marijuana products, more people are jumping into the cannabis business. Don’t get left behind, reach out today and learn how Cannabis Business Resources can help you grow.

If you’re running a small cannabis business, you may understand the financial struggles of keeping up with increased demand, updating expensive equipment to stay relevant in the market, and any other large costs that are associated with operating your company.

One way to help alleviate some of that pain is to obtain a small business loan. In the cannabis industry, you can work with lenders that specialize in the marijuana industry and understand your growing needs. Here are some of the benefits for small businesses if they decide they want to pursue a small cannabis business loan from a lender like Canna Business Resources.

Benefits of Cannabis Loans for Small Businesses

• Allows for Large Purchases

When you are a small business, occasionally there will be times where you need to spend a little out of your budget, weather it is an unexpected cost or something that you need to keep up. Being able to make smaller payments each month instead of one large payment, it can help you get what you need without throwing all your money in one place.

• Help build your credit

If you can pay your monthly payments on time, this can really help build up your credit score. When you increase your credit score, it’s possible that you will be able to qualify for better financing options down the road. This is more of a long play game, but it can pay off for your business if you continue to expand.

• Opportunities to Expand

If you’re a small business, hopefully you will get the chance to expand and grow your operations. Using a cannabis loan can help with the large costs it requires when growing. Things such as cannabis real estate loans can help you purchase more land for manufacturing or growing.

• Keep up to date with high quality equipment

The cannabis industry is one of the fastest growing industries running right now, so new processes and equipment is necessary to keep up. With the help of cannabis equipment loans, your small business can keep up with the growing demand and changing industry while keeping cash in your pocket.

Can Any Small Business Get a Cannabis Loan?

No, not everyone can qualify for a cannabis loan. Cannabis loans are specifically for the cannabis industry and their ancillary companies, so businesses that do not have any cannabis ties does not qualify. Even if you are a small cannabis company that applies for a cannabis loan, it doesn’t mean that you are automatically approved. There is still a process and your loan application needs to be approved

If you are worried you may not be approved for a cannabis loan, you can follow some best practices and tips. If you have questions, your best option is to reach out to our experts who can help understand your business needs. Once that is complete, they can work with you to find a cannabis loan that fits your budget.