When it comes time to look for capital, it can be stressful in any industry. With cannabis still being prohibited by federal law, it is even more difficult for cannabis business funding. You might be surprised that most FDIC banks won’t get involved, no matter your assets or credit score. Current federal laws can make locating cannabis business funding even more difficult. Along with being difficult, it can also bring in lenders who are trying to take advantage of your brand.
With this in mind, it doesn’t mean that your business does not need capital. Cannabis businesses are identical to other companies in many ways. Exhibit A: Like any company, a marijuana/CBD/hemp company lives and dies based on its access to capital. Without capital, even the greatest minds and brands can fail. At ToolLeaf, we understand how intimidating the fundraising process can be. We have been there.
Cannabis business funding can be used in various ways to allow your business to succeed. You can use the funds for property, equipment, employees, technology, and/or advertising costs with business funding. All of these items cost, and we understand that you need financing, especially at the start. Amazon didn’t turn a profit until nine years after its founding. Most people can’t imagine running a company for nine years without profit. ToolLeaf knows that sometimes the most significant companies take time before reaching maturity. Our experience in cannabis business funding allows us to look at the bigger picture.
ToolLeaf believes in the cannabis industry and partners with companies aligned with our goals. ToolLeaf is based out of Colorado and has access to people and businesses that know the success cannabis business funding can bring them. ToolLeaf knows that cannabis is throughout the country as well. We’ve partnered with companies in multiple states, giving us connections in and outside of Colorado.
ToolLeaf brings you in partners that know how to succeed in the cannabis industry. Our partners have experienced all phases of the industry from the beginning to now. Making sure you have the right finance partners will allow your business to grow. You don’t want to be stuck with an impatient finance partner that is looking to get the highest interest rates from you. You need partners that you can trust.
Our resources are at your disposal to demystify fundraising.
ToolLeaf is well-connected in the cannabis industry. We can make introductions and may even invest ourselves. We know how difficult it can be to discuss money with new people. Don’t be shy. Our team at ToolLeaf will gladly go over your business proposal and see how we can assist. Whether that assistance comes from us directly or one of our long-term partners in the industry.
Contact ToolLeaf today to discuss funding support for cannabis companies. We look forward to discussing your project with you in detail.