Even Equipment Manufacturers Choose Upwise for Cannabis Equipment Financing
- Kickstart your cannabis venture or expand your operations with cannabis equipment financing loans or leasing options, particularly when you lack the upfront cash to make the purchase.
- Acquire essential equipment for your cannabis business, from cultivation and extraction to processing and packaging, without depleting your working capital.
- Unlock growth opportunities and reach new milestones by investing in the right equipment through tailored financing solutions designed for the cannabis industry.
Take advantage of an 85% approval rate - act now!
What is Cannabis Equipment Financing?
Cannabis equipment financing helps you finance up to 100% of the new or used equipment you need for your business. Applying for an equipment loan is typically a fast and easy way to finance the purchase of ALL types of cannabis equipment. Whether you need new agricultural equipment, processing equipment or to equip your dispensary or build your retail store, Upwise can finance it.Â
Leverage equity in your owned Equipment
With a secured loan against your equipment, you can take advantage of the equity in your existing equipment, or use newly-purchased equipment as collateral.
Cannabis Equipment Financing Details
As Low As 4.59%
1-10 Years or Expected Life of Equipment
As Fast As 2 Days
Up to 100% of Equipment Value
Equipment Financing Pros vs Cons
PROS
Avoid Large Upfront Costs for Equipment Purchased
Get Discounts on Equipment from Partnered Vendors
We Finance LED and HVAC which most companies do not
CONS
Higher Rates for Lower Credit Scores
Equipment Depreciates – You cant deduct full cost each year
Rates & Terms heavily determined by credit and equipment
Who Qualifies for Cannabis Equipment Financing?
As it turns out, most businesses can qualify for cannabis equipment financing loans, even start up businesses. Equipment financing approvals are based on personal and business credit scores, industry type, positive trade history, existing trade lines, Debt Coverage Service Ratio, and the equipment quotes provided by the business owner.
How much you qualify for and the interest rate you’ll pay is determined by the value of that equipment, your business’s financial history, and your credit scores. Â
Cannabis or CBD Equipment financing can be a great option if your credit rating is less than perfect, too, since the equipment acts as collateral. You can also leverage existing owned equipment to get a loan using your equipment as the collateral. Â
In fact, our underwriting team is just as concerned with what’s securing the loan, as we are with your borrowing history. The type of equipment you are purchasing is an important aspect in the approval process.Â
So, if you’re planning on investing in a high-value (and value-retaining) piece of equipment, then we might be willing to work with you, even if your credit profile and finances are not pristine. Â
Our equipment financing team will assist you in finding the right equipment and make sure your approval is custom tailored to fit your business needs.
What Types of Cannabis Equipment Can You Finance?
Cultivation Equipment
Harvesting Equipment
Processing Equipment
Vehicles & Trucks
Retail Fixtures
Cannabis Supplies
Business Systems
Cannabis Equipment Leasing & Financing Requirements
Good Financial & Tradeline History
over 550+
over $120K
6+ Months - Start Up Encouraged to Apply
* Note: These cannabis equipment leasing & financing requirements are based on previous Upwise customers and is just an average.
Upwise: Empowering Cannabis Businesses with Equipment Financing Solutions
What do Cannabis Equipment Loans cost?
With cannabis equipment loans, the most important thing to keep in mind is that it stops you from needing to pay the entire cost of that equipment upfront. It is just like a lease to own program when financing a car. Instead, you’ll pay it off in regular installments, until you own the equipment outright.
However, because you will be paying interest on financed equipment over a longer period of time, you’ll be paying more total money with an equipment loan than you’d pay if you purchased the equipment outright without financing. The tradeoff is worth it for businesses that can’t afford a large, upfront expense or do not want to deplete their cash flow with such a huge one-off purchase.Â
Cannabis equipment financing is a great option for ALL small businesses looking to expand their business. A variety of different things can be considered equipment financing for a small business, so please make sure to ask your Upwise equipment specialist what items are considered equipment by our underwriting team.
An Example of the Pricing on Cannabis Equipment Financing
Let’s say you have a piece of equipment you’d like to purchase that costs $10K.
Upwise offers to front you the cash to purchase that equipment, but they’ll charge you 12% simple interest over a 3-year (or 36-month) term.
With a 12% APR, your business equipment loans will make it so that your $10K piece of equipment will actually cost you $11,957.15, with a monthly payment of $332.14 over the next 3 years. Â
As a business owner, it makes more sense to have a $332.14 monthly expense for the equipment rather than coming out of pocket for $10k upfront. Â
Some Questions to Ask Yourself About the Cost
At this point, you need to decide whether or not a business equipment loan is right for you, you’ll have to take a look at your business’s finances and ask yourself whether an equipment financing loan makes sense for your business plans. Â
Can you save some money by shelling out $10K upfront for the equipment avoiding interest payments, or will that huge expense hurt your businesses cash flow too much?
And if you can’t afford it now, should you chose to wait until you are able to save up enough money and buy the equipment later? Â
It could mean lost profits, since you could have used that equipment in the meantime by financing it with a business equipment loan! You have to weigh your opportunity costs. Â
Through indecision opportunity is often lost. Fundamentally, you need to figure out whether the opportunity cost of waiting and saving outweighs the interest payments you’d make to have that equipment right now with an equipment financing loan from Upwise.
Equipment can be considered one of the largest purchases a cannabis business owner makes, in the life cycle of their business. If you plan your business finances well, the right piece of equipment should bring in a lot more revenue for your business, than you are paying in interest for the equipment loan.Â
At Upwise we offer equipment financing program with terms ranging between 1 – 8 years. Most equipment financing lenders only offer up to 5 year terms maximum.
Our Cannabis equipment financing team here at Upwise capital, is here to assist you every step of the way in securing that equipment needed to help your business grow Upwise. If you have any questions regarding how equipment financing works, please call our team at (646) 837-5522.
Apply for a Cannabis Equipment Loan Now.
- Pursue new opportunities, upgrade operations, support inventory or boost marketing efforts.
- Apply today to unlock working capital that supports your goals without restrictions
- Close the cash flow gap within your cannabis company or bridge the financing divide between your short-term and long-term goals.
Stay ahead of the curve - get access today!
Documents You'll Need to Apply
Driver’s License
Voided Business Check
Business Bank Statements (Last 4 Months)
Credit Score
You may also be requested to provide the following for larger dollar amounts over $100K:
Balance Sheet
Profit & Loss Statements
Business Tax Returns
Personal Tax Returns
The cannabis industry is growing strong, but still faces many obstacles in terms of financing. The equipment you need to grow, cultivate, harvest, package and distribute Cannabis, CBD or Hemp products is vital to the success of your business.Â
This equipment can be expensive and most bank’s won’t provide the financing. Our cannabis equipment financing team will assist you through every step in the process of getting that equipment your business needs to grow.
Uses for Cannabis Equipment Loans
- Cultivation equipment: Finance the purchase of grow lights, hydroponic systems, climate control units, and other essential tools to optimize your cannabis cultivation process and improve crop yields.
- Extraction machinery: Invest in state-of-the-art extraction equipment, such as closed-loop systems, rotary evaporators, and distillation units, to produce high-quality cannabis concentrates and expand your product offerings.
- Processing and packaging: Acquire automated trimming machines, industrial grinders, packaging equipment, and labeling systems to streamline your post-harvest operations and ensure consistent product quality.
- Laboratory and testing: Secure financing for laboratory equipment, including chromatography systems, microscopes, and other analytical tools, to ensure your cannabis products meet strict quality and safety standards.
- Delivery and transportation: Purchase or lease delivery vehicles, such as refrigerated vans or secure transport vehicles, to safely and efficiently distribute your cannabis products to dispensaries and retail outlets.
- Dispensary and retail: Upgrade your point-of-sale systems, digital signage, display cases, and security equipment to enhance the customer experience and protect your inventory in your cannabis dispensary or retail store.
Benefits of Cannabis Equipment Leasing
Preserve cash flow: Cannabis equipment leasing allows you to acquire the necessary tools and machinery without making a substantial upfront investment, helping you maintain a healthy cash flow for other critical aspects of your business, such as inventory, marketing, and staffing.
Flexible terms and options: Leasing companies often provide customizable payment plans and lease terms that align with your business needs and budget, allowing you to spread the cost of equipment over time and adjust your payments as your cannabis venture grows and evolves.
Tax advantages: In many cases, cannabis equipment leasing payments can be treated as a business expense, providing potential tax benefits and deductions for your company. This can help reduce your overall tax liability and improve your bottom line, especially in an industry with complex tax regulations.
Cannabis Equipment Leasing
Why Choose a Cannabis Equipment Financing?
Cannabis equipment financing offers numerous advantages for businesses operating in the marijuana industry. By choosing to finance your equipment, you can:
Conserve capital: Financing allows you to acquire the necessary equipment without tying up a significant portion of your working capital, enabling you to allocate resources to other critical areas of your business, such as inventory, marketing, and staffing.
Upgrade equipment easily: As the cannabis industry evolves and new technologies emerge, equipment financing makes it easier to upgrade your machinery and stay competitive without having to make substantial upfront investments.
Mitigate equipment obsolescence: With the rapid pace of technological advancements in the cannabis industry, financing your equipment can help mitigate the risk of obsolescence by allowing you to upgrade to newer models more easily.
Enhance business scalability: Equipment financing enables you to acquire the tools necessary to scale your operations and meet increasing demand without putting undue strain on your financial resources.
From Extraction to Packaging, Cannabis Companies Choose Upwise for Equipment Financing
At Upwise Capital, we understand the unique challenges and opportunities faced by cannabis entrepreneurs when it comes to acquiring essential equipment. That’s why we’ve developed specialized cannabis equipment financing solutions tailored to the needs of businesses across the industry spectrum. Our team of expert advisors works closely with you to identify the best financing options for your specific requirements, whether you’re looking to lease or purchase cultivation equipment, extraction machinery, or dispensary technology.
With flexible terms, competitive rates, and a deep understanding of the cannabis industry, Upwise Capital is committed to helping you secure the equipment you need to thrive in this dynamic market. We believe in building long-term partnerships with our clients, providing ongoing support and guidance as your business grows and evolves. Choose Upwise Capital for your cannabis equipment financing needs and experience the difference of working with a lender dedicated to your success.
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How to Get Cannabis Equipment Leasing & Financing
Quick & easy application
Our simple 15-minute application gets you on your way to funding quickly. Most applicants receive a fast decision within hours of applying. Then just choose your loan terms and you could have funds deposited into your account as soon as 24 hours.
Ensure you make the wise choice
Every Upwise applicant gets a dedicated funding advisor who takes the time to understand your business and it's unique needs. We are here for your support throughout the entire funding process.
Access multiple financing options
Upwise has an extensive product suite and a network of 100+ lenders. This means you're more likely to find the best match for your funding needs.
