Loan Amounts - $30,000 to $5,000,000
Terms - 1-5 Years
Time to Fund - 1-5 Business Days
Interest Rates - 6% - 35%
All Terms are subject to credit approval.
Partner:
We value a streamlined process from application to funding. We have partnered with Marie Jane Co. to offer equipment financing programs to our customers so that you, as a business owner, can access a quick and affordable way to get new equipment to enhance your business’ productivity, effectiveness, and service. These loans provide for periodic payments that include interest and principal over a fixed term. A considerable number of businesses use equipment financing to replace, upgrade, or purchase new equipment while at the same time retaining cash flow and working capital. The loan is self-secured, meaning that the piece of equipment or machinery works as collateral. As a result, lenders tend to offer lower interest rates with longer terms. How much you can borrow and the interest rate will depend on the value of the equipment you will buy and the strength of your loan application. Also, the term of the loan will not exceed the length of the useful lifetime of the financed equipment.
- ✔Fast approvals
- ✔The equipment acts as strong collateral
- ✔You’ll own the equipment at the end loan term
- ✔Allows you to make equipment upgrades easily
- ✔Helps your cash flow
- ✔You can save money on your business tax return under Section 179 of the IRS
- ✔You won’t have to wait until you have the capital on-hand to purchase the equipment
Most businesses can qualify for cannabis equipment financing loans. Equipment financing approvals are based on personal and business credit scores, industry type, positive trade history, existing trade lines, Debt Coverage Service Ratio, and the equipment quotes provided by Mammoth Lighting. How much you qualify for and the interest rate you’ll pay is determined by the value of that equipment, your business’s financial history, and your credit scores. Our funding partners will assist you by making sure your approval is custom-tailored to fit your business needs.