Trying to find cannabis lenders can be difficult. There’s still LOADS of red tape involved with any type of business in the marijuana industry. That’s because even though marijuana is now recreationally legal in 18 states plus Washington D.C., and broadly decriminalized in 18 others, the US federal government still demands that marijuana is a Schedule 1 illicit drug.
This article will clue you in on the best ways to obtain cannabis funding today. It’s still going to be a challenge for most, however, it is possible. Let’s take a look!
The truth about cannabis lenders
Modern cannabis lenders are not traditional banks or credit unions. Those types of lending institutions are unable to issue cannabis funding because their loans are insured by the federal government – and the government forbids loaning money on marijuana operations.
Adding to the problem, most venture capitalists and angel investors will not provide cannabis funding either. Governmental, political, and social hindrances exist that make loaning money for marijuana entrepreneurs unfeasible.
Which states is marijuana recreationally legal in?
According to Wikipedia, there are 18 states where people are allowed to think freely and use marijuana either recreationally or medicinally (it’s all medicinal). They are:
Washington, Virginia, Vermont, Oregon, New York, New Mexico, New Jersey, Nevada, Montana, Michigan, Massachusetts, Maine, Illinois, Connecticut, Colorado, California, Arizona, and Alaska
Which states is marijuana medically legal in?
States that have embraced the medical use of marijuana in adults are West Virginia, Utah, South Dakota, Rhode Island, Pennsylvania, Oklahoma, Ohio, North Dakota, New Hampshire, Missouri, Minnesota, Maryland, Louisiana, Hawaii, Florida, Delaware, Arkansas, Alabama.
Canna loan types
In states where it’s permitted, cannabis lenders make various types of canna loans. Whether you need capital for new cultivation equipment, building an edibles manufacturing facility, or remodeling your existing dispensary, there’s a canna loan option waiting for you!
From start-ups to established companies, Cannabis credit lines provides the cannabis funding you need. Over ? years, we have helped thousands of ganjapreneurs to obtain the cannabis funding they needed to launch, maintain, or further their operations.
As additional states continue to make weed legal for recreational and medical use, more cannabis funding options are opening up. We have helped marijuana farmers, extractors, processors, packagers, laboratories, and more.
Cannabis funding for you
So, with the banks, credit unions, venture capitalists, and angel investors all unable to engage in cannabis lending, where can an aspiring weedtrepreneur turn to get cannabis funding?
Cannabis credit lines is a private cannabis lender that helps well-vetted applicants to obtain the cannabis funding they need. We stay on top of the most current legislation and are always watching the state and federal governments for new developments that affect the marijuana industry.
Reach out to us via phone or our website chat box if you have any questions about the legalities of marijuana in your state. Marijuana laws are quickly changing all over the country, and it can be confusing sometimes!
We only allocate cannabis funding inside the continental United States at this time. Contact us today to find out if you qualify for unsecured capital to launch or grow your business. We can get you pre-qualified with 48 hours for cannabis funding up to $250,000.
https://www.diamondbl.com/marijuana-business-funding
https://www.cannabusinessfinancing.com/legislation
https://en.wikipedia.org/wiki/Legality_of_cannabis_by_U.S._jurisdiction