Cannabis Lender Highlight: Dispensary Financing for NJ, MD, OH, IL & MO
Dispensary Owners Take Note, There is a New Kind of Lender in Town
While the cannabis community watches the medical cannabis rescheduling process work through the federal government we thought we’d talk about a new cannabis lender program just added to our lender lineup.
If you own a dispensary license in New Jersey, Maryland, Ohio, Illinois or Missouri, this one is for you. With options to purchase or refinance a dispensary building, renovate your dispensary or even acquire an existing dispensary. Collateral is NOT ALWAYS REQUIRED!
What Makes this Cannabis Lender Different?
Cannabis lenders come in many forms. Truth be told, most of the lenders in the space don’t have any hands-on experience that comes with working in the cannabis industry itself.
But once in a while you find a different type of lender. A lender that started in the very industry they now finance into. One that assigns value to the business and the license and not just physical collateral. A lender that deploys a mix of debt and equity or profit sharing to align them with the performance of your cannabis dispensary.
We call them a hybrid lender, and that is because unlike most debt lenders, they can step in and utilize their expertise to right the ship in turbulent times.
They are also nimble and can move much faster than traditional lenders and most private lenders.
What Types of Cannabis Business Loans do they Offer?
This lender provides four types of cannabis business loans.
- Cannabis Real Estate Purchase Financing: Acquire the property for your dispensary.
- Cannabis Real Estate Refinancing: Straight refinance or cash-out refinancing to free up additional capital for your dispensary.
- Cannabis Real Estate Renovation Financing: Funds to renovate your dispensary, whether you own the building or lease the space.
- Cannabis Acquisition Financing: Purchase an existing license or operational dispensary.
What Does this Cannabis Lender Offer for Rates & Terms?
These cannabis business loans hit a great sweet spot.
- Finance amounts from $500K to $2M
- Repayment terms range from 2 to 5 years
- Rates start at 12.99%
- No minimum time in business requirement
- No revenue requirements
Am I Qualified for this Cannabis Loan Program?
First, you’ll need to be in one of the five states mentioned at the beginning of this article. To save you the scroll, they are NJ, MD, OH, IL & MO. In addition…
- There must be a dispensary license involved. Vertically integrated licenses are OK, so long as there is a dispensary component and that is what the financing request is for.
- Can be a first time owner or a seasoned owner expanding.
- The financing request is for a dispensary acquisition, property purchase or refinance or remodel of a dispensary (owned or leased space).
- You are open to debt plus equity or profit share structures.
Want to Learn More About these Cannabis Loans?
Contact us today to schedule your no-obligation call to walk through your project, confirm you qualify for the program and prepare to engage our lender.
About the Author: Daryl Eames is the founder of Loanviser and the NH Cannabis Association. He has advocated for cannabis legalization in the state of New Hampshire and has deep experience in cannabis business loans and cannabis merchant processing, servicing the cannabis industry since 2019.
