{"id":10760,"date":"2022-12-11T03:52:26","date_gmt":"2022-12-11T03:52:26","guid":{"rendered":"https:\/\/ultimatehealthreport.com\/finding-solutions-to-the-desperate-need-for-cannabis-financing\/"},"modified":"2022-12-11T03:52:26","modified_gmt":"2022-12-11T03:52:26","slug":"finding-solutions-to-the-desperate-need-for-cannabis-financing","status":"publish","type":"post","link":"https:\/\/ultimatehealthreport.com\/finding-solutions-to-the-desperate-need-for-cannabis-financing\/","title":{"rendered":"Finding Solutions to the Desperate Need for Cannabis Financing"},"content":{"rendered":"
\n<\/p>\n
Access to capital has traditionally been a barrier to retailers, growers, distributors, and everyone else in the cannabis space. But as Bob Dylan so succinctly phrased it:\u00a0<\/p>\n
The times they are a-changin\u2019\u00a0<\/em><\/p>\n While legalization referendums languished in the halls of Congress, slow progress was being made in individual states.<\/p>\n Come senators, congressmen<\/em><\/p>\n Please heed the call<\/em><\/p>\n Don\u2019t stand in the doorway<\/em><\/p>\n Don\u2019t block up the hall<\/em><\/p>\n But, as is the status quo for Congress, the halls have been blocked for cannabis reform for decades.\u00a0<\/p>\n Who is slow now will later be fast\u00a0<\/em><\/p>\n That aphorism has now manifested in the cannabis industry.\u00a0<\/p>\n The cadence of progress in the industry has now reached a crescendo, and businesses are regularly growing at a rate that exceeds their means. <\/p>\n Since federal legalization seems to be in an indefinite holding pattern, organizations have emerged to meet the growing need for cannabis businesses to finance and scale their operations.\u00a0<\/p>\n \u201cWe are seeing a tremendous appetite for access to capital from the cannabis space,\u201d FundCanna Founder and CEO Adam Stettner said. <\/p>\n Stettner founded FundCanna in Sept. 2021 after spending 15 years lending to non-cannabis small businesses, where his previous company underwrote over a million files. <\/p>\n \u201cIn looking at that and realizing the parallel to cannabis, I thought the timing was ideal and the need was fairly strong,\u201d Stettner said.\u00a0<\/p>\n Because the cannabis industry has matured, businesses in the space resemble traditional small business more than ever. \u201cThe parallels between traditional small business and the cannabis business are much greater than I think most people would expect,\u201d Stettner said.\u00a0<\/p>\n \u201cSo we talk to businesses that are doing in the low tens of thousands monthly, and we speak to businesses that are doing well in excess of a million monthly. That was true in traditional or non-cannabis SMB, small and medium-sized businesses. And it is true in cannabis as well.\u201d<\/p>\n FundCanna provides financing to all 39 states that have passed legislation making cannabis legal. To qualify for a loan, clients must be legal and licensed so that they\u2019re compliant.\u00a0<\/p>\n \u201cThat is an absolute for us,\u201d Stettner said. \u201cAnd then we will not fund pre-revenue or startup companies. So they must be operating for at least three months and have revenue. <\/p>\n \u201cAnd then beyond that, we just call on our experience to determine how much a company can comfortably accommodate. But the absolutes are compliance and licensing and operations with existing revenue.\u201d<\/p>\nFundCanna<\/strong><\/h3>\n
Who Qualifies for a FundCanna Loan?\u00a0<\/strong><\/h3>\n