As more states become friendly to cannabis businesses, more lenders and credit companies are opening up to them. While CBD businesses in many places are still cash-only, with onsite ATMs, credit processing is increasing every day. Improved merchant services means more customers, spending more money and making every part of their transactions smoother. It's better for you, for them, and for your bottom line.
If you're in the market for a new spin on CBD merchant processing, Canna Business Financing has years of experience in all financial aspects for CBD businesses. Whether you're just starting out or you're an established business, we're here for you. Let's look at how our merchant processing services stand apart from the rest.
There are many laws and extensive stigma surrounding cannabis in the financing industry. Many lenders are still afraid to back cannabis enterprises because the products are still technically illegal at the federal level. As more states legalize, however, it's become an increasingly less critical concern and financiers are realizing that cannabusiness is a legitimate business.
So while you might find a lender that isn't traditionally based in cannabis, working with one that has its root in the product is more to your advantage. We understand the particular pitfalls that can pop up in the way of your fledgling company. Problems like finding cannabis-zoned real estate, opening a line of credit and, in particular, being able to secure purchases with credit cards.
Credit and debit transactions always charge a little extra on top; that's simply how they make money. Cannabusiness Financing routes to multiple merchants at once, seeking the lowest cost to run your charges. This saves you and your customers money, and our cutting edge software ensures that it doesn't take forever to process.
Though you might think "it's fine, I'll accept whatever merchant will work with me", that doesn't have to be the case. Even a small increase on each purchase eats into your bottom line, and over time with enough purchases, you'll be looking at a decent chunk of money just out the window.
By ensuring we're always working with multiple payment processors at the same time, we keep your transactions short and your checkout line moving. The transactions that involve an ATM within the store, or fiddling around with charge in $5 increments through a point-of-sale atm and then dispensing cash back are a huge pain. Finding and working with a lender at the speed of a non-cannabis business is a huge relief once you've been able to experience it.
Depending on the pricing model of the payment processor, you could be looking at downgrade/upgrade fees in order of 1-3% on top of the payment processing fees. What's worse, these are rarely explained or outlined, and they can really add up.
We not only work with the fastest processors possible, but we find the best rates for upgrade/downgrade fees. The less extra money you're spending just to do business, the better.
Cannabusiness Financing has been making CBD merchant processing easier for cannabis companies for years. We have extensive experience in this field, which we use to ensure you get the financing that fits your needs at the rates you deserve. Contact us today to get started on the first step towards opening or upgrading your cannabusiness.
Provide the Canna Business Financing team on important information around the funding you are looking to acquire through our website.
We make the pre-approval process as simple as possible. Each applicant can qualify for up to $250,000 and receive a pre-qualification within 48 hours.
The Canna Business Financing team has had a success rate of over 80%. Receive the funding your cannabis business needs to grow and thrive.
"Lynnda and Alisza were a pleasure to work with. They helped me with funding my business and gave options and ideas that will stick with me many years. I can't say enough about the customer service they provided, the follow ups and interest they had in my business. I will always know who to turn too for any financial advise regarding loans and lines of credit."
"I wanted to start my own business but didn't have fantastic credit. Lynnda and the team worked with me and we systematically fixed some credit issues to get me to the point where I could qualify for a loan and line of credit to start my dream! Working with Lynnda has proven to be a positive life changing experience for me!"