Finding the right funding is essential when it comes to your cannabis business. Whether you are beginning a new venture or you want to take your current business up a notch, the right way to proceed is to ensure you have the right cannabis loans in Oregon to choose from.
Why Oregon Cannabis Business Loans?
For many industries, funding comes in a business credit line or bank loans. However, for Cannabis business funding, you may come across some bumps in the road where assistance is harder to get than traditional financing. This never changes the need for funding; it just means that such businesses need to look at new sources outside of a bank or a similar source.
When you locate and understand cannabis loans in Oregon, you can ensure that your goals for the venture will provide you cash on hand for the next step.
How Do I Get A Loan For Cannabis Business?
Approximately 10% of funding for entities in the cannabis industry comes from traditional bank loans. This means the remaining 90% comes from private and alternative sources. While we wait for Congress to pass bills that allow cannabis proprietors to get long-term loans for business, it is important to know all of your options for financing.
It is best to take the time to research all of the points you need to cover for you to get the approval you need for financing. Some options include:
- Personal Financing – You may have personal savings or friends and family that would like to invest in your business. Someone investing in cannabis as a business will not bring restrictions as your friends and family have the ability to choose to do what they wish with their money. However, keep in mind that you run the risk of damaged relationships should you run into issues.
- Development Funding – In states where adult-use or medical marijuana has been legalized, development funds are available. These funds offer low-interest loans for different businesses. However, this loan type is set up for specific circumstances, and it will not fit each business out there.
Bespoke Financial – Trusted Cannabis Loan Lenders
Here at Bespoke financial, we are your one-stop when looking for cannabis business funding. We work with business owners like you to ensure they have all of the benefits of financing to start or bring their business to the next level. Not only that, but the network we offer helps so you do not have to do most of the legwork. We have built quality relationships with banks to save you time and frustration.
There is nothing quite like owning your own business, especially in a field as popular as the cannabis industry has become. When it comes time to get cannabis loans in Oregon, we want you to know that you can always trust Bespoke Financial to have your best interests in mind. We invite you to give us a call at (323) 508-1280, and a member of our team will be happy to address whatever funding questions you have on your mind. Apply now to get a loan!