BOHEMIA, N.Y., Oct. 16, 2019 /PRNewswire/ -- National Business Capital & Services, a FinTech leader that has helped tens of thousands of business owners across all industries secure over $1 billion in financing, is excited to announce the release of an industry-leading CannaBusiness Financing Solution.
The CannaBusiness Financing Solution 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 CannaBusiness Financing Solution 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 CannaBusiness Financing Solution can help cannabis companies seeking financing for business growth, provided their business model is in compliance with state laws.
Joseph Camberato, President of National Business Capital & Services, is thrilled to provide a cost-effective and reliable solution for cannabis entrepreneurs on a quest for business financing.
"The Cannabusiness Financing Solution 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 CannaBusiness Financing Solution follows National's breakthrough eQuickment Financing Product, which offers business owners seeking equipment financing approvals in less than an hour.
ABOUT NATIONAL BUSINESS CAPITAL & SERVICES
National Business Capital & Services is the #1 FinTech marketplace offering small business financing and services. Harnessing the power of smart technology and even smarter people, we've streamlined the approval process to secure over $1 billion in financing for small business owners to date.
Our expert Business Financing Advisors work within our 75+ Lender Marketplace in real-time to give you easy access to the best low-interest SBA loans, short and long-term loans and business lines of credit, as well as a full suite of revenue-driving business services.
We strengthen local communities one small business loan at a time.
For every deal we fund, we donate 10 meals to Feeding America!
National Business Capital & Services
[email protected] | National.biz
1 Corporate Dr, Suite 202, Bohemia NY 11716
Toll Free: (877) 482-3008 | Fax: (631) 446-6016
SOURCE National Business Capital & Services