Are you in the Cannabis / MMJ industry, and in need of invoice factoring? With medical marijuana being legal in 29 states, and 7 states approving recreational use – the demand for cannabis is higher than ever. Many entrepreneurs need invoice factoring, due to the lack of traditional lenders. Businesses in the cannabis industry have cash-flow problems for one reason or another. This problem has resulted in the need for new financing in the cannabis / mmj industry. Delancey Street can provide that funding.
We are a Cannabis invoice factoring company. We don’t play games, and are very upfront about what we need from a potential borrower. Our product is structured to protect us(the lender), yet at the same time give you the working capital you need. Here’s a quick summary of our invoice factoring program, and how it might be able to help you:
- Cheaper than going to investors – you can scale without giving up your company
- Collateral required – In order to offer low interest rates, we ask for collateral in the form of property, or some other asset. This helps us secure your loan, without having to charge higher interest rates.
- Funding in 24-48 hours – Great for emergency situations and opportunities.
No credit history. No credit checks required.
Because we ask for collateral, we offer generous limits on your invoice factoring limit. We offer you a revolving line of credit, with a very low interest rate – which can be used as money for invoice factoring purposes. With 24-48 hour funding timelines, we can help you get the money you want ASAP. In addition, we don’t make you – and your customers, go through strenuous credit checks or other paperwork.
Why our unique system works
We require collateral, and as a result, we can offer you an unlimited invoice factoring limit (up to the value of the collateral). Our unique system of factoring doesn’t require daily, weekly, or monthly payments. We advance you the cost of the invoice, and then wait for the customer to pay the invoice.
Many cannabis businesses have immense future revenue purchases, but no immediate funds. We can give funds in 48 hours. By putting up collateral, we can charge a lower percentage, whereas other lenders might charge 20-30% over 6-18 month loans. By putting up collateral, your interest rate is only 8-12% which saves you immense money. There is no limit on how the invoice factoring funds can be used.
Ways you can use the funds
Expansion financing – Many clients use funds to make down payments for new expansion operations. Many cannabis business owners hunt for larger warehouses, and buy new real estate. You need capital in order to conduct business and expand your business.
Acquisition financing – The market is more mature, and acquisitions are occurring. Smaller players are strugging and putting their busienss up for sale. This allows medium and bigger sized players to increase market share. The capital you get from our Cannabis invoice factoring service can be used to buyout smaller players.
Working capital – Sometimes businesses just need more money to bridge their shortfalls. We can help. We provide you with the capital you need to do what you have to do.