Cannabis Business Loans from JoVai Capital
CannaBusinesses have seen tremendous growth over the years in the medical and private sector. More industries every year are realizing the true value and versatility of cannabis as a commodity, and are helping to guide legislation that will boost the marketplace as a whole. At JoVai Capital, we share this forward-thinking vision, which is why we provide financing to CannaBusiness owners to help them thrive and grow in this new economy.
CannaBusiness Financing Program
JoVai Capital offers this customized financing program to provide working capital loans and lines of credit for CannaBusinesses based on personal guarantees. Our CannaBusiness financing programs are great solutions for startups in the cannabis industry or for any company in need of capital to preserve equity and secure funding regardless of their current level of success.
Revolving Lines of Credit
Lines of credit provide a reliable and versatile source of working capital for CannaBusinesses. Entrepreneurs can use these lines of credit to launch marketing campaigns, make down payments on properties, rehab expenses, equipment, or anything else required to grow and operate the business. Our revolving lines of credit feature:
- 0% interest for 12 to 18 months
- Borrower personally guarantees the lines of credit (business/personal)
- This is a personal loan structured around your 2017/2018 personal tax returns and credit
- Credit score of 700 or better to qualify
- Lower debt utilization – being a business owner or setting up a new business are requirements
JoVai Capital provides term loans to CannaBusiness owners to build and grow operations. Our term loans are designed specifically for the industry and feature fast approval and processing times, so CannaBusiness owners do not have to wait on bureaucratic chains of command or arbitrary decisions from traditional lending channels who still view the cannabis industry as a high-risk sector. Our term loans for CannaBusiness owners offer benefits including:
- No collateral or business financials required
- This is a personal loan that you qualify for based on your 2017/18 personal tax returns and credit
- No prepayment penalties
- 680+ credit score is generally required with low utilization and ownership of a business entity
- Interest rates ranging from 6.9% to 13.9%
- Terms up to 5-7 years
Get the Financing You Need for Your CannaBusiness
The cannabis industry is gaining tremendous momentum, and entrepreneurs taking the long view see the potential for tremendous revenue over the next few years, and for decades to come. JoVai Capital believes CannaBusiness owners should not have to deal with prohibitively high requirements from traditional lending channels who are still wary of the viability of the cannabis industry, even though market demand is there, and legislation is moving forward to create space for CannaBusinesses. Whether you are launching a CannaBusiness or are looking to expand your existing operations, contact the experts at JoVai Capital. Our team will work with you to create a funding strategy to meet your needs and help you reach your goals for long-term success.