As of this writing, 48 states have legalized cannabis in some form, recreationally, medically or both. But, until cannabis is no longer a Schedule I controlled substance on the federal level, those seeking cannabis equipment financing will have a difficult time getting traditional bank funding. Big banks are prohibited from lending money to businesses that profit from controlled substance sales. Even though non-traditional and private lenders are stepping in to fund cannabis equipment financing, startups and those with credit blemishes have a hard time finding solutions.
Obtaining financing for cannabis equipment is more difficult to do than for equipment used in other types of industries, but it’s not impossible. Your lender, like Global Financing & Leasing Solutions, must understand and work within local, state and federal lending laws in the cannabis industry. Equally important, your lender should understand your business and goals in order to find equipment funding that works for your cannabis business.
Global Financial & Leasing Services is a veteran-owned company headquartered in Scottsdale, AZ. In 2009, we were founded to meet the equipment financing needs of small to mid-sized businesses all over the United States. GFLS provides equipment financing solutions for a wide range of companies and a wide range of credits. For those who have great financials and credit history or those who have past blemishes or are start-ups, we are able to peel back the layers of an applicant’s credit history to uncover value and create a structure that will often work for them.
We are able to provide financing solutions for a wide variety of cannabis equipment, including:
- Testing equipment, such as mass spectrometers, gas chromatographs, liquid chromatography instruments (HPLC), inductively coupled plasma (ICP) & atomic absorption (AA) spectrophotometers, equipment, machines and microscopes
- Extraction equipment, such as C02 extractors, evaporators, supercritical systems, distillation systems and wax extractors
- Processing & packaging machines, including filling machines, packagers, labeling machines, cartoners, weigh/fill/ package machines
- Industrial trimmers
- Heavy machinery
Equipment leasing is popular with cannabis businesses because the type of equipment needed is expensive to purchase. Cannabis equipment leasing can be a smart alternative to purchasing, since payments can be made over time and at the lease’s end, depending on your lease option, you can purchase the equipment or lease an upgraded version.
Why Those Seeking Cannabis Equipment Leasing Choose GFLS
- Process is simplified, fast, easy
- Ability to speak directly to decision maker(s)
- Flexible – not all deals are of the “cookie cutter” variety; we take the time to understand
- Credit blemishes — tell us the cause(s); we listen
- Constant communication – daily updates to both vendor/client
- Turnaround Time – 2 to 24 hours
- Clients are treated with respect and kindness
LEARN MORE: Taking the Mystery Out of Applying for Equipment Financing
How to Get Approved for Cannabis Equipment Leasing
Global Financial & Leasing Services, has been a leading provider in equipment financing since 2009 for small and medium-sized businesses that need financing for essential use equipment.
We are an established direct lender with the unique ability to finance almost any business seeking to acquire equipment. With our in-house funds and relationships with over 200 private label and public banks, we have the ability to help businesses who have been turned down by or aren’t an option for banks.
Apply NOW and speak with a certified lease and finance professional today.