Cannabis Financing

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Cannabis Financing - Cannabis Business Loans

Upwise Capital is 100% committed to serving our Cannabis & CBD clients the best cannabis financing and payment solutions.  We would like to take part in shaping this young industry by providing both funding and development to the companies with the vision to be the future of the legal cannabis industry.

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In the cannabis industry, finding a good cannabis financing option is no easy task. While many canna business owners in the cannabis industry have found workarounds, there is still a lot of confusion about staying compliant.  We know you have questions and we have answers.

States continue to pass new laws regulating the use and cultivation of cannabis.  Each new law passed creates new opportunities for getting your business financing.  We help farmers, cultivators, extractors, processors, trimmers, packagers, labs and more.

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What is Cannabis Financing?

Cannabis finance is a loan specifically intended for Cannabis, CBD & Hemp related business purposes. Cannabis financing gives you the needed capital to pay for inventory, equipment, hiring new employees, overhead, build-outs, real estate purchases and more.  Also, these loans depending on the lender allow for flexible payments that can include daily, weekly, bi-weekly and monthly payback options. 

Cannabis Financing: How It Can Help You​

The financial side of running a cannabis business can be one of the most difficult tasks.  The decision to take on debt or give away equity in your business to accomplish your financing goals is a tough one.  Whether you’re a brick and mortar store or an e-commerce seller, we understand that cannabis businesses need support.  It might seem overwhelming to navigate the cannabis financing marketplace. That’s where Upwise and our loans for cannabis companies can help.  

Open a New Location or Upgrade Your Equipment

If you are a cannabis operator looking to remodel your dispensary or open a new location, then a cannabis loan can be used to finance your renovation project.  Additionally, if you need a business loan for cannabis equipment, see our financing and leasing options.

Capitalize On The Ever Expanding Cannabis Industry

We know how critical it can be to get the cannabis financing your business needs, and when you need it.  Often equipment is needed as well to expand business prospects and to capitalize on market opportunities.  We have cannabis equipment manufacturer relationships that offer discounts and can save you thousands on equipment costs.

What Can Cannabis Business Loans be used for?

Facility Construction

  • Importantly, your operating facility needs to be state of the art and meet all necessary regulations
  • Cannabis construction financing can be taken advantage of to build out your facility, whether it be for growing, manufacturing or dispensary.

Hire More Staff

  • With cannabis financing, you can address the need for hiring more staff during expansion or busy times of the year
  • Apart from financing hiring, you may also use funds from a cannabis loan for training costs and payroll to keep your employees happy

Open A New Dispensary Location

  • You can use cannabis financing to buy new cannabis equipment, fixtures and displays
  • Use equipment leasing and financing to purchase all types of retail equipment to improve customer experience

Finance Cannabis Equipment

  • You can use cannabis financing to buy new cannabis equipment, fixtures and displays
  • Use equipment leasing and financing to purchase all types of cannabis equipment to improve your operation

Manage Cash Flow

  • Maintain your capital cash flow to manage expenses when experiencing unforeseen cannabis issues
  • Utilize a non-dilutive working capital loan for almost any use, and don’t give up any equity in your company

Marketing & Advertising

  • Use a cannabis loan to advertise and grow your customer base or promote a new store location
  • Build or optimize your website, add new signage, or place a magazine or newspaper ad to generate new customers

Best Cannabis Financing Options

Cannabis Inventory Financing

Inventory financing can be a great option for cannabis business loans, especially if you need the funds to purchase new merchandise. Many retailers we come across need to stock up on inventory going into a busy season, such as a holiday or busy season to have access to this form of lending can make or break a business.  For instance, cannabis business owners will buy product in advance to ensure they have enough inventory to meet the demand of the busy seasons. Cannabis inventory financing is a popular choice amongst CRB operators.  Increase your purchasing power to buy larger quantities, which in return will improve your COG.  

Cannabis Purchase Order Financing

The cannabis industry has unique challenges when it comes to purchasing raw materials. Undoubtedly, if a large PO comes in, you want to ensure that you’ll have the necessary funds to complete the order. Therefore, you can use cannabis purchase order financing to have the capital to fulfill your purchase orders when you don’t have the cash on hand.  Upwise will advance you cannabis money for 100% of your purchase of raw materials.

Cannabis Equipment Leasing & Financing

A cannabis equipment leasing loan can be a great option for a cannabis business, especially if you are looking to lease or finance new grow equipment, dispensary equipment or cannabis LED lighting.  Many retailers utilize new displays and equipment in order to show off their goods to give the best shopping experience.  Therefore, a new piece of equipment can certainly have a huge impact on the growth of the business. Also, Upwise has relationships with equipment manufacturers and distributors to save you money on your build out.

Cannabis Real Estate Financing

Upwise Capital offers multiple real estate financing options for cannabis business.  A cannabis real estate loan is secured by assets or collateral.   This includes cannabis, hemp & CBD commercial real estate loans for operational facilities.   Use your existing collateral or purchase a new facility.  Collateral and assets can also be accounts receivables, equipment, licenses, land, crop, purchase orders and inventory. 

Non-Dilutive Working Capital

A cannabis working capital loan or cannabis cash advance can be both secured or unsecured.  Every loan we do is unique and tailor fit to the needs of the cannabis business. The funds from non-dilutive working capital can be used for opening a new location, launching a new product and a multitude of business purposes.  Upwise will fund up to $10M on our own balance sheet and understand the cannabis capital markets best. 

Cannabis Sale Leasebacks

We have great cannabis sale-leaseback options for those companies who want to leverage their owned facility to expand or access canna capital.  Upwise acquires freestanding commercial and retail properties from licensed medical-use cannabis businesses. The properties can be leased back to the business for operational costs. We focus on well capitalized operators with a successful track record.

Types of Cannabis Business We Serve

We offer business loans to a wide range of cannabis businesses and industries:

How to Apply for Cannabis Financing?

You can apply for small business loans for cannabis through Upwise Capital, we make the application process very simple for you. Simply visit our online application here or call us directly to apply over the phone at (646)837-5522.  

The amount of paperwork required for your application will depend on the product you are interested in or what your business will qualify for.  If you’d like to sign NDA’s before sharing your information or data room, please reach out to us directly. 

Step 1: Choose the right product for your cannabis business
  • The first step is choosing the best financing options that most align with your business needs. Consider what you’re using the money for. Are you covering a short-term or long-term cost? Are you leasing new equipment or building out a facility? We can assist you with choosing the best cannabis loan for your needs, just give us a quick call at 646-837-5522.
Step 2: Gather & Submit Your Documents

Secondly, here is a list of documents required for most cannabusiness loan types:

  • Completed Application
  • Cannabis Deck & Debt Schedule
  • Driver’s License
  • Voided Business Check
  • Business Bank Statements (Last 6 Months)
  • Personal Financial Statements for all Owners 20% or more
  • YTD P& L and Balance sheet
  • Five Year Proforma P&L, Annual only in Excel Format
  • Executive Summary, Use of Funds & Loan Type Requested
  • Account Receivables Report (if securing AR)
  • Inventory List (if securing inventory)
  • Purchase Orders (if securing PO’s)
Step 3: Fill Out an Application
  • Third, you can begin the application by filling out our online application or calling us directly.
Step 4: Speak to an Upwise representative
  • In the fourth step, once you’ve submitted your application, an Upwise representative will reach out to learn more about your business and explain your available options. Here we will go inform you of the repayment structures, rates, terms, and conditions. This way, you won’t have to worry about any hidden fees during the closing or repayment process.
Step 5: Receive your Approval
  • Last but not least, if and when you’re approved for funding, you will be presented with an offer and approval.  If you agree to the terms and conditions, you will receive a funding contract.  

Why Upwise for Cannabis

Pros and Cons of Cannabis Business Loans

PROS
Strategic Financing Partner

Marijuana businesses grow by taking on risks to expand and increase their revenue and bottom line. Thanks to our cannabis funding marketplace, you can say “yes” when your cash flow would otherwise force you to say “no.” In other words, you’ll always have the cash to assist with expansion as Upwise Capital as your financing partner.

Lending Based on Cannabis Value

Our lending based on cannabis value is a huge benefit for cannabis facilities.  A typical real estate loan would base the loan amount off an appraisal, but we understand how a cannabis business works.  The value of the property, after your build out, equipment installation and full of product would be valued much higher.  This will give you the advantage when trying to get approved for the maximum amount of capital. 

Manufacturer & Distributor Relationships

If you’re financing equipment, the advantage of working with Upwise Capital is we have partnered with equipment manufacturers and distributors.  This can save you up to 25% on your equipment costs when considering cannabis equipment leasing to build out or upgrade your facility.

CONS
Choose the Right Partner

Although there are many advantages to getting cannabis business loans, many small CRB operators don’t want to get themselves into too much debt by borrowing more money than they need.  This can sometimes cause more harm to the business than good.  It’s important to choose the right cannabis financing option to ensure positive results. 

Difficult to Find Banking Partners

Due to the marijuana industry still being illegal on the federal level, most FDIC banks are not able to a support cannabis business.  Therefore, it makes it difficult for CRB operators to find proper banking and financing solutions. 

Fees & Higher Interest

It’s important to know that the cannabis financing underwriting process can be different than a typical business loan.  Sometimes you have to pay a placement fee in order to find the best canna capital source.  Depending on the type of cannabis business loan, you may incur such fees during the loan process:  appraisal fees, survey fees, origination fees, due-diligence, environmental reports, third-party repots, etc.

cannabis and cbd financing

If I already have a loan can I still apply for Cannabis Funding?

Yes, even if you have another loan with a bank or lender, your business may still indeed be eligible.  As long as you have not defaulted, have a good payment history and underwriting determines that your business can afford to pay back the loan, you can still qualify for a cannabusiness loan. 

Is it hard to qualify for Cannabis Lending?

Importantly, this will depend on what type of cannabis business loan you are applying for.  For example, a real estate loan is a lot harder to get approved for rather than cannabis equipment leasing. However, here at Upwise we offer a variety of loan options for you to choose from.  In addition to this, each type of cannabis funding has different qualifications so that you can find the best solution that works for you. To ensure you can get qualified and get the best interest rates and terms, you’ll want to have all your finances in order. See below the documents you’ll need to apply.

What are the rates for Cannabis Business Loans?

The rates and terms depend on a wide range of factors that determine your business’ risk score. This includes the product you’re applying for, how long you’ve been in business, credit history, what you’re using the money for, revenue & other financial factors.  To determine which cannabusiness loan is the best fit for your business, speak with a dedicated funding advisor to discuss your needs. Call (646)837-5522 today to compare your options.

See below, we go over the best financing options for cannabis:  

Documents Needed to Apply for a Cannabis Business Loan

  • Completed Application
  • Cannabis Deck & Debt Schedule
  • Driver’s License
  • Voided Business Check
  • Business Bank Statements (Last 6 Months)
  • Personal Financial Statements for all Owners 20% or more
  • YTD P& L and Balance sheet
  • Five Year Proforma P&L, Annual only in Excel Format
  • Executive Summary, Use of Funds & Loan Type Requested
  • Account Receivables Report (if securing AR)
  • Inventory List (if securing inventory)
  • Purchase Orders (if securing PO’s)

Cannabis Funding Solutions

Canna capital loans are easy to secure.  It only takes a few minutes to apply, and Upwise will present you with options.

Applying won’t impact your credit score.

We make it easy, simply apply online and we’ll be in touch to go over your options.

Cannabis Financing
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Cannabis Business Loans

can be used for 
Employees
Inventory.
Payroll.
Purchases.
Step 1: Complete the Application

Apply online in just a few minutes or call us directly to apply over the phone at (646) 837-5522, its your choice. We do an initial assessment of your loan request. This will give us an idea up front whether there is enough of a fit to move forward based on our lending guidelines.

Step 2: Review Your Documents

We will collect and evaluate the required documents necessary for the product(s) you are applying for. These documents may include financials, bank statements, tax returns, reports, invoices, business plan, real estate appraisals or vendor quotes, etc.

Step 3: Decline or Approval

If approved, you will receive an offer. The offer may come in the form of a term sheet, letter of intent (LOI), or memorandum of understanding (MOU). The offer may come with conditions that need to be met for final approval such as title work, completion of an appraisal or site inspection.

Step 4: Agree to Terms

Once the conditions of the offer are met and all documents required are received, a final approval is made and a formal loan agreement is structured. The borrower reviews the loan agreement to determine if the terms are agreeable.

Step 5: Sign the Contract

The lender may or may not have flexibility regarding redlining or altering the terms or conditions of the agreement. If the loan agreement is satisfactory for both parties, it is signed and executed and plans for closing are set.

Step 6: Get Your Funds

At closing any necessary closing documents are signed and the loan proceeds are disbursed as specified in the loan agreement. Receive funds into your account via wire transfer or ACH. Can be available as soon as same day.

Cannabis, Hemp & CBD Services
Dynamic Banking

Completely transparent and insured banking at your fingertips with trusted banks or credit unions within our network. 

Merchant Services

Upwise Payment Processing accepts all types of credit and debit cards for brick & mortar, e-commerce and wholesale.

Cannabis Financing

Cannabis financing programs provides small businesses with working capital loans of up to $20 million for almost any purpose. 

Hemp & CBD Financing

CBD Financing can help businesses respond to opportunities and challenges regarding anything CBD or Hemp related.