Rapid Capital announces the release of an industry-leading Cannabis Business Funding Program.
The Cannabis Business Funding Program will empower ambitious cannabis entrepreneurs in the fast-growing $10 billion industry to access resources they need to grow their businesses, tearing down industry lending barriers that previously led to the inevitable denial of applications by traditional banks. Although medical marijuana is legal in 33 states, and recreational marijuana in 11 states and Washington D.C., federal law continues to prevent traditional financing institutions like banks and credit unions from offering their products to even the most successful cannabis businesses. Many cannabis entrepreneurs instead resort to angel investors, venture capitalists or private equity—who offer immediate access to capital— but sign away significant long-term profit share in the process, forcing emerging businesses to relinquish control of business revenue and operations to scale to the next level.
The revolutionary Cannabis Business Funding Program offers an industry-first solution for cannabis entrepreneurs accustomed to encountering roadblocks, offering fast financing suited to accomplish any goal, without giving up equity. This game-changing new program is available to all market subsets, including:
- Cultivation, growing & farming
- Hemp & CBD products
- Marijuana products
- Consumption devices
- Cannabis-specific marketing and business development agencies
- Other ancillary cannabis companies
The Cannabis Business Funding Program can help cannabis companies seeking financing for business growth, provided their business model is in compliance with state laws.
Head of the program, JG, was quoted as saying “The Cannabis Business Funding Program will allow business owners to seamlessly obtain the capital they need, and allocate funding toward either hiring new employees, purchasing inventory, marketing strategies, or any other business need right away, without government regulations hindering growth opportunities or having to give up equity.”
Qualifying cannabis companies must be in business for at least 1 year, with a minimum of $10K in monthly revenue. There is no minimum FICO score requirement.
The Cannabis Business Funding Program follows Rapid Capital’s other breakthrough Financing Products, which offer business owners seeking financing approvals in less than an hour.
Click here to fill out the contact form and let’s start a dialog. We can work with virtually any type of business. Let us show you how our programs and expertise can help you start, grow or even save your business.
Thank you for reading and looking forward to chatting with you soon.