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.