Cannabis is becoming big business. That may be the understatement of the century. According to Statista, medical marijuana alone made $4.5 billion dollars in 2018. Impressive right? Wait for it; the same statistics group estimates that medical and recreational marijuana will bring in a combined $37.3 billion by 2024. That’s just five years away. And CBD, the non-psychoactive mood aid? Rolling Stone predicts sales will hit $22 billion by 2022.
Let’s throw even more numbers at you. Since recreational marijuana became a thing not that many years ago, some 28,000 cannabis businesses have popped up around the country. The average price for an ounce of marijuana in the U.S. is $320. In California, a little over 23 people per 1,000 are medical marijuana patients.
You get the idea; cannabis, CBD, and medical marijuana is a good business to get into if you want to ride this wave. But how do you go about getting funding for one? Let’s take a look at your options.
You could go through the bank and get a traditional bank loan. Rates will be low, but many banks are more conservative and reticent to get into what they perceive as a legal gray area. Even if they’re willing, you need a stellar credit score, amazing credentials and a spotless history.
Commercial Arizona Hard Money Loans, on the other hand, would be secured with collateral, so your scores, numbers and financial history are less important. Still part of the equation, but less so than the banks. Approval can happen in a day and funds can be yours in as little as a week.
I not only have years of experience in the commercial Arizona Hard Money Loan business, but I’ve also had years of experience in the cannabis industry, working for grow houses when things were just beginning to take off in California. Let me put that expertise to work for you — give me a call today to talk about starting your cannabis business!
Level 4 Funding LLC
Hard Money Lender
Hard Money Loans
Hard Money Loan
Arizona Tel: (623) 582-4444
Texas Tel: (512) 516-1177
Dennis Dahlberg Broker/RI/CEO
NMLS 1057378 | AZMB 0923961 | MLO 1057378
22601 N 19th Ave Suite 112 | Phoenix | AZ | 85027
111 Congress Ave | Austin | Texas | 78701
About the Author: Dennis has been working in the real estate industry in some capacity for the last 40 years. He purchased his first property when he was just 18 years old. He quickly learned about the amazing investment opportunities provided by trust deed investing and hard money loans. His desire to help others make money in real estate investing led him to specialize in alternative funding for real estate investors who may have trouble getting a traditional bank loan. Dennis is passionate about alternative funding sources and sharing his knowledge with others to help make their dreams come true. Dennis has been married to his wonderful wife for 43 years. They have 2 beautiful daughters 5 amazing grandchildren. Dennis has been an Arizona resident for the past 40 years.