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You don’t need squeaky clean credit to qualify for a small business loan—we work with all credit profiles.
TRAM Funding offers cannabis business loans for acquiring commercial real estate, dispensary construction, equipment purchases, and other purposes that will support your cannabusiness. Talk to our cannabis loan specialists today to determine if you qualify.
Down payments vary but they typically range from 10% to 30%. Down the line, you may also apply for refinancing for longer-term payments with lower interest rates.
Bridge loans are short-term borrowings that can be used to purchase new cannabis processing equipment or scaling your operations through a site expansion, remodelling and reconstruction, or acquiring another location.
Yes, even if you have another loan with a bank or lender, your business may still indeed be eligible. As long as you have not defaulted, have a good payment history and underwriting determines that your business can afford to pay back the loan, you can still qualify for a cannabusiness loan.
Importantly, this will depend on what type of cannabis business loan you are applying for. For example, a real estate loan is a lot harder to get approved for rather than cannabis equipment leasing. However, here at Upwise we offer a variety of loan options for you to choose from. In addition to this, each type of cannabis funding has different qualifications so that you can find the best solution that works for you. To ensure you can get qualified and get the best interest rates and terms, you’ll want to have all your finances in order. See below the documents you’ll need to apply.
The rates and terms depend on a wide range of factors that determine your business’ risk score. This includes the product you’re applying for, how long you’ve been in business, credit history, what you’re using the money for, revenue & other financial factors. To determine which cannabusiness loan is the best fit for your business, speak with a dedicated funding advisor to discuss your needs. Call (212) 717–9000 today to compare your options.