Cash has become increasingly important in the Canadian cannabis industry
In the beginning, investors were excited to get involved in the cannabis industry, indiscriminately funding nearly every project that looked appealing while waiting for what was often touted as an immediate payoff. These days, the situation has changed significantly, as stocks have remained rocky at best, and investors are holding their breath, fearing the worst for their decision to leap in headfirst, making it incredibly difficult for new and small cannabis businesses to raise the money needed for necessary maintenance, upgrades, hiring staff, and expansion.
Young, green companies of all kinds in Canada are now vying for the attention of a select few cash sources, turning what is normally already an arduous task into a difficult competition that leaves far too many business owners out in the cold.
No cash
Building a business from the bottom up is difficult, and a lack of capital can be the tipping point that stresses any operator to its limit. Banks also aren’t really willing to get involved in the cannabis space, even now that legalization has become a widespread movement, with some businesses struggling just to gain access to basic banking services like debit or business accounts. It’s a trying time to be growing in the cannabis space, but these limits don’t make it impossible for companies that need this boost to survive.
What cash can do for your cannabis business
Could your cannabis company benefit from hiring a few extra helping hands? Do you need help with rent, bills, or invoices that are piling up? Are accounting transactions becoming too confusing to keep up with? Maybe you’ve got plans to expand sitting at a standstill due to a lack of capital.
These big moves can make it so that a cannabis business can grow, compete, and thrive in the bustling legal market. Cash is key for company owners that wish to expand, stay afloat or avoid creditor actions, and though there aren’t many options out there, some lenders like CapitalNow Cannabis are eager and waiting to help make those dreams a reality.
A cash flow solution
CapitalNow Cannabis isn’t your average financing business, nor are they a bank. However, they do provide a fast and easy solution for cannabis companies that find themselves in this uncomfortable situation of needing capital. Whether you’re looking for equipment or mortgage financing, assistance with understanding SR&ED Tax Credits and how to claim them or hoping for relief when all of your business’s cash is tied up in unpaid invoices, CapitalNow Cannabis has plenty of opportunities available, and it won’t cost you equity to get the help you need to get back to business.
With a simple approval process that takes mere days rather than weeks, funds that are wired directly to your business account, transaction accounting assistance, and even faster acceptance for those who’ve been customers before, CapitalNow Cannabis has quickly become the simplest way to solve many issues with cash and capital for cannabis businesses.
