HOLLYWOOD, Calif., Jan. 17, 2013 /PRNewswire/ -- Medbox, Inc. (OTC Markets: MDBX) (www.medboxinc.com), announced an in-house financing facility that will allow its credit-worthy consulting clients to benefit from low interest financing direct from Medbox.
According to Medbox, they have fielded over 5000 inquiries from prospective medical marijuana entrepreneurs since 2010 and a strong barrier for entry into the burgeoning industry was a lack of financing options available to those clients at that time. Medbox will be bridging this gap by giving prospective licensing applicants in newly approved medical and recreational retail states the option of financing 50% of all consulting and technology purchases to assist them with their new endeavors. To date, the company has only offered its services to clients that were able to afford full payments without any form of financing, which led to missed opportunities for the company and its prospective clients in years past.
Medbox anticipates that this new financing strategy will ensure that the company maximizes on all its prospective leads and will allow for smaller start-ups to benefit from a multi-billion dollar industry in its infancy. The financing component also adds yet another revenue stream for Medbox.
The company's announcement comes at a time of significant growth for Medbox as it is in the midst of a marketing effort in Colorado and Washington reaching many existing retail businesses that are in a position to benefit from recent recreational marijuana legalization in their states. The company estimates that application assistance and dispensing machine placements, behind-the-counter in approved locations in Colorado and Washington will account for 25% of the company's $17 million dollar revenue projection for 2013.
The company also announced that it will offer the same 50% financing on its Rx line of machines for traditional prescription medications so that smaller doctors' offices, urgent care centers, and other healthcare related businesses can benefit from its equipment with decreased out-of-pocket expenses.
"We are absolutely thrilled to be in a position to finance our clients. Growing companies need to always keep an eye on how they can improve operations and retain more business," stated Dr. Bruce Bedrick, CEO of Medbox, Inc. "By offering this level of financial assistance to our clients, we can help provide them the support they need to grow and expand, while giving Medbox additional market penetration and revenue streams."
About Medbox, Inc:
Medbox is a leader in the development, sales and service of automated, biometrically controlled dispensing and storage systems for medicine and merchandise. Medbox has offices throughout the world, including New York, Arizona, Connecticut, Massachusetts, Tokyo, London and Toronto, and has their corporate headquarters in Los Angeles.
Medbox provides their patented systems, software and consulting services to pharmacies, dispensaries, urgent care centers, drug rehab clinics, hospitals, prison systems, hospice facilities, and medical groups worldwide.
Medbox, Inc. is a publicly traded company, and is quoted on the OTC Markets, ticker symbol MDBX.
For more information on Medbox, please contact the Medbox Investor Relations Department at (800) 762-1452 or go online to www.medboxinc.com.
SOURCE Medbox, Inc.