Bespoke Financial Launches Licensed Lender Platform Supporting Cannabis Companies
With medical marijuana now legal in nearly all states, it’s not surprising that the cannabis trade has significantly boomed in recent years. It’s estimated to become worth $66.3 billion by 2025 and is seen to generate about $17.5 billion in tax revenues by 2030. With how big it is about to become, it’s not surprising that more and more folks want to become a part of it. The market is willing and wanting, so it holds a lot of potential for budding entrepreneurs.
If you’re one of these folks who wish to take a piece of the pie that is the cannabis market, you don’t have to worry much if you already have a good idea of what you want to offer. Bespoke Financial might just be able to help you out.
Bespoke Financial is a licensed lender that is created to provide financial services to those who wish to get into the cannabis industry. It’s backed by Casa Verde Capital, a venture firm that is focused on the growth of the cannabis industry and has Snoop Dogg as one of its partners. In line with Casa Verde’s mission, Bespoke Financial aims to support cannabis companies the same way banks and other traditional lenders support other businesses.
With the stringent but murky regulations that surround the cannabis industry right now, banks are not too eager to grant loans to growers and dispensaries that need some financial backing to start or support their operations. Despite the great potential of the industry, it’s just not as traditional as the other businesses national banks are used to, so there’s a major need for an alternative option.
Bespoke Financial provides invoice financing and inventory financing to help fund cannabis businesses so they can aid in the setting up or bolstering of their operations. It’s the first of its kind short-term lender for the cannabis industry, so they might just be the best people to turn to if you want to get started in your cannabis venture.