A Merchant Cash Advance is a great alternative to obtain working capital for your Cannabis business. Finance your day-to-day operating costs and to allow for growth and potential business opportunities.
As many of you know, the cannabis industry is in the midst of rapid expansion and growth. In 2019 alone, the cannabis industry generated $16-18 billion dollars in revenue. By 2030, the revenue from the cannabis industry is expected to pull in $30 billion dollars.
The cannabis industry is expected to grow 241% within the next five years. Exciting times! This means your business will be growing exponentially and you may need to purchase a larger space, expand your inventory, add more talented staff or you may need to plan ahead in case you incur various other unforeseen expenditures.
Why a MCA is such a great solution to fill working capital gaps
Because there are currently only a handful of states that have legalized cannabis businesses, and it remains illegal at the federal level, it can be difficult to obtain funding in this space. Whether you’re a supplier, manufacturer or retailer, a Merchant Cash Advance is an excellent alternative solution to conventional loans.
Merchant Cash Advances can supply your cannabis business with a lump sum of cash whenever you feel the need to expand your business, hire staff or purchase inventory. Whatever your business needs in order to grow, a Merchant Cash Advance can help you have cash-on-hand to keep your operation running smoothly.
Funding for Autonomous Businesses
The average cannabis business will not have access to bank loans until marijuana is legalized at a federal level. Cannabis entrepreneurs have mostly had to rely on personal loans, private equity, and venture capital to fund their businesses. None of these funding scenarios are ideal for the independent-minded entrepreneur. In the case of personal loans, the business owner’s credit and assets are at risk; in the case of private equity and venture capital, the owner may have to give up a significant portion of their stake and control in their business.
With a MCA from Rose Capital Funding, qualifying cannabis businesses retain full control and can choose to use funding however they see fit.
How MCA works for a cannabis business
We know that it takes a village to run your cannabis business. Your village includes bud-tenders, growers, farmers, utilities, vendors, and more. You need the flexibility to repay your cash advance while keeping all of the components of your business running smoothly. A MCA is a simple, structured repayment based on a fixed daily or weekly rate.
Rose Capital Funding Wants to See Your Business Grow!
It’s always wise to think about the future growth of your cannabis business. Plan your future today by reaching out to one of our team members. Partner with a trusted organization that will be there quickly and easily, should issues arise. Having a pre-existing relationship with Rose Capital Funding means that you can have cash on hand to meet the needs of your cannabis business when the unexpected happens or just to meet the needs of an ever-growing industry.
Whether the money is used to invest in manufacturing or product, hire additional team members, support expansion or for those unforeseen last-minute expenses, a MCA from Rose Capital Funding will provide you with the funding you need to keep your business running smoothly and efficiently. Reach out today to one of our specialists to see if you are eligible for a Merchant Cash Advance.