Several states have now legalized marijuana use and consumption. If your state has legalized medical marijuana or recreational marijuana, it is still quite difficult to get a business loan. Marijuana merchants are almost universally turned down by traditional financial institutions. Even with a fantastic business model and great business plan most lenders are still weary to provide minimal support to any marijuana business, since the federal government still outlaws the sell and distribution of marijuana. Yet having working capital is essential to every type of business, especially those in such a new industry.
Marijuana business loans from alternative lenders are the answer to the problems that many merchants may have. They can provide the needed capital quickly and frequently so that marijuana merchants can have funds for startup costs, inventory and even personnel. Most marijuana businesses will need infusions of capital for the short term. Unlike many other types of businesses, marijuana merchants may not have an easy time finding new investors nor do most have the necessary collateral for a traditional loan. Alternative lending sources, like First American Merchant (FAM), have the understanding and infrastructure to provide funding in less than 24 hours without tons of paper work and documentation.
Alternative Options are Available for Marijuana Business Loans
FAM merchant advances can be used for a variety of business purposes. Marijuana merchants will experience the peace of mind that comes with the knowledge that there are reasonable and ready alternative capital sources out there without all the hurdles of traditional borrowers. First American Merchant has a full technology suite and a professional and experienced staff to determine what you will be approved for, and the funding decisions are available in less than 24 hours. Merchants will apply for, and know if they are approved for marijuana business loans all in the same day, that’s because FAM specializes in hassle free and fast alternative business funding.
Stop asking big banks for loans, FAM has the right loans for you, with the fast and friendly service you require. Start your application today!