As the cannabis industry grows and evolves, so do the industry’s business needs. One of the most pressing needs for many cannabis companies is access to equipment. Leasing or purchasing equipment can be a significant financial hit, especially for smaller operators.
That's where cannabis equipment financing comes in.
How Does Cannabis Equipment
Financing Work?
Cannabis equipment financing helps fuel brand growth. With FundCanna’s experts by your side, we’re happy to help you every step of the way.
Here's a step-by-step breakdown of how the equipment leasing process plays out:
- Determine Your Equipment Needs: Determine the type of equipment your business needs and how much it costs.
- Find a Financing Company: Find a financing company that offers equipment financing and understands your line of work. It’s important to work with a trusted lender who specializes in cannabis funding. FundCanna provides equipment financing exclusively to the cannabis industry.
- Apply for the Loan: After selecting your lender, you’ll need to apply for the loan. This typically involves filling out an application and providing information about your business, such as your financial history and credit score. Need help getting sorted? Our team of experts are happy to help.
- Get Approved: Once approved, you can send the financing company the invoice for your equipment costs. They’ll pick up the costs upfront, allowing you to make payments over a flexible period determined between both parties.
- Receive the Equipment: With the bill covered, your company can utilize the equipment needed to reach the next level.
How Does Cannabis Equipment Financing Work?
Cannabis equipment financing helps fuel brand growth. With FundCanna’s experts by your side, we’re happy to help you every step of the way.
Here's a step-by-step breakdown of how the equipment leasing process plays out:
Step 1- Determine Your Equipment Needs: Determine the type of equipment your business needs and how much it costs.
Step 2- Find a Financing Company: Find a financing company that offers equipment financing and understands your line of work. It’s important to work with a trusted lender who specializes in cannabis funding. FundCanna provides equipment financing exclusively to the cannabis industry.
Step 3- Apply for the Loan: After selecting your lender, you’ll need to apply for the loan. This typically involves filling out an application and providing information about your business, such as your financial history and credit score. Need help getting sorted? Our team of experts are happy to help.
Step 4- Get Approved: Once approved, you can send the financing company the invoice for your equipment costs. They’ll pick up the costs upfront, allowing you to make payments over a flexible period determined between both parties.
Step 5- Receive the Equipment: With the bill covered, your company can utilize the equipment needed to reach the next level.
Equipment Financing In Action
So how might cannabis cultivators, extractors, and lab testing facilities use equipment leasing loans? Here just a few cases where equipment loans fuel growth:
Cultivators
Specialized lighting and climate control systems are critical for most cannabis cultivators these days. To grow high-quality cannabis, you need superior strains and machinery.
But cost is a huge hurdle. Systems are often expensive to purchase outright. And with margins thinning, not many cultivators have the available funds to make the investment.
That’s where FundCanna comes in. We provide equipment leasing loans to cultivators of all sizes. FundCanna helps cultivators obtain equipment without depleting their cash on hand.
With a $150,000 loan, a cultivation facility could upgrade its lighting and climate control systems. More often than not, the combination of leading machinery and top-quality genetics results in:
- Better plant quality
- Increased market reputation
- Booming sales
With the bottom line benefitting from the investment, the cultivation facility can easily pay back the loan using flexible terms–all the while using its return on investment to fuel the next stage of company growth.
Extraction Labs
Extraction labs are crucial to fueling the public's desire for cannabis concentrates. However, even on the low-end, you’re looking at thousands of dollars in costs. Depending on the solvents used, you could be moving into the millions to set up shop and comply with workplace regulations.
Live cannabis extraction has become one of the more in-demand sectors in recent years. The process of flash freezing newly harvested biomass which is stored in a freeze dryer until it’s ready to be used in an extraction process. Live cannabis is now a popular product in solventless and solvent-based products.
An extraction lab looking to move into live products will need an investment often around $50,000 to $150,000 depending on several factors. Rather than putting down the money all at once, the extractors can turn to an equipment leasing loan. They can send the invoice to FundCanna, and we’ll pick up the bill.
With the extraction machinery in place, your company can soon see immense benefits, including:
- New product offerings (Live resin, live rosin, live sauce, bubble hash, etc.)
- Increased sales and customers
- Positive market reputation/Increased market presence
Offering various SKUs should help attract a diverse range of consumers, boosting B2B and/or B2C sales. The momentum should help assert your brand in the booming extracts space that spans a range of consumers, from dab enthusiasts to medical patients to edibles and vapes consumers.
Testing Facilities
Starting a cannabis testing lab can vary in cost. Several factors often impact startup costs, including:
- Lab size
- Equipment needed
- Location.
Equipment costs are sure to be staggering for any startup lab. Analytical devices, sample prep equipment, and software are all needed. Then there’s the day-to-day costs to consider, including rent, utilities and payroll.
Rather than worrying about paying for everything now, equipment loans allow cannabis labs to obtain the necessary equipment and pay the costs back over a flexible period of time.
Cannabis testing labs can apply for a $150,000 equipment loan with FundCanna to purchase or lease essential testing equipment, including high-performance liquid chromatography (HPLC) machines or gas chromatography-mass spectrometry (GC-MS) machines.
With the needed equipment, the lab can assure it delivers accurate, reliable results to various brands across the state. In turn, consumers are assured that they are consuming lab-tested, safe cannabis products. With the public enjoying the products, the state and its licensed operators should experience a boost in public support.
Unlock Your Growth Potential
Cannabis equipment financing from FundCanna help brands reach the next level. We provide businesses with the funds needed to obtain the equipment they need.
With an equipment loan, companies avoid high upfront costs. Acquire high-quality, specialized equipment without depleting your cash on hand.
FundCanna is happy to guide you through the equipment leasing process. Our equipment leasing loans have helped cannabis cultivators, extractors, lab testing facilities and countless others get the funds and equipment needed to startup and scale.
Don’t be bound by high equipment costs. Contact FundCanna today!
Get the working capital you need. Fast.
Approvals in as little as 24 hours
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