What Is Cannabis Equipment Financing?
Equipment financing is a way to purchase or borrow assets for your cannabis business through a loan. Cannabis equipment financing can be used to purchase any physical assets like farm equipment, tractors, trimmers, shredders, HVAC units, marijuana lighting equipment, security equipment, and CO2 extractors.
Advantages of Cannabis Equipment Financing
There are multiple advantages that come with taking out a loan to purchase cannabis equipment. This will allow you to purchase all of the equipment you need to keep your cannabis business running and profitable.
Sometimes equipment financing doesn’t only cover the direct costs of the equipment but also extra costs like installation, taxes, and freight costs. Cannabis equipment financing through Titan Funding Solutions comes with multiple added benefits, including:
- Customized payment options that are tailored to your business and cash flow needs. This includes seasonal, variable, ascending or descending payment schedules so that you have comfortable payments at all times.
- With equipment financing, you have the option to defer your payments for up to 6 months which allows your new equipment to generate revenue without making payments!
- Our start-up business program allows beginning businesses to start off on a strong foundation to ensure long-term success. Most financial institutions will not approve new businesses, however we are one of the few that welcome startups!
- Our technology upgrade program allows you to stay on the cutting edge of technology by giving you the option to periodically upgrade your equipment at no add-on or additional cost.
- You will receive the working capital needed to cover any cash flow shortcomings. This also allows you to fund new business growth opportunities, as soon as they develop.
Commonly Financed Cannabis Equipment
Cannabis growers and other businesses require a lot of specialized equipment to operate efficiently. Some of the most common pieces of equipment include:
- Processing Equipment: It is important to have the right processing equipment for your cannabis equipment. Purchasing this equipment can get expensive but is crucial to successfully packaging and shipping your product out.
- Trimming Equipment: Purchasing heavy duty and long-lasting trimming equipment is a great way to keep your business efficient. It is important to buy machinery with strong blades, wet and dry capabilities, and airflow adjustment options.
- Shredding Equipment: Running a cannabis business comes with a lot of cannabis waste. To properly dispose of this waste, you will need a cannabis shredder. Cannabis disposal is also regulated by each state and should be followed to avoid fines. This means that shredding equipment is necessary to running a cannabis business.
- Farming Equipment and Tractors: In order to grow a quality product at an efficient rate, you need the right farm equipment…it’s crucial to your success.
- Lighting Equipment: Artificial lighting is essential for indoor growers. Grow lamps can get expensive, especially if you need to order a large quantity of them. It is important for your business to invest in reliable lighting technology that will result in a great harvest.
- CO2 Extractors: Extracting oil from plant material is necessary to create products containing THC or CBD. CO2 extractors do just this. However, they commonly come with a hefty price tag.
- HVAC Units: Maintaining the temperature and humidity in grow rooms is essential for healthy crops. It is important to purchase an energy-efficient and reliable HVAC system that assists with airflow.
- Security Equipment: Video surveillance, alarms, and digital storage are all very important for businesses in the cannabis industry. If you are looking to purchase security equipment for your business, you might need equipment financing to cover the costs.
How To Qualify For Cannabis Equipment Financing
Most businesses can qualify for equipment financing loans, especially with our Start-Up Business Program. Your approval will be based on your credit score, financial history, and ability to repay the loan.
Our personal loan consultants will work with you to help you through the equipment financing process. They will assess your current situation and business needs to customize a loan that fits your individual situation. This ensures you get affordable payments that are convenient for you and your business.
Titan Funding Solutions is one of the top lenders in the cannabis financing industry. If you are looking for a fast, simple, convenient loan that is customized to fit your individual needs, you are in the right place. We will provide you with the cannabis equipment you need to maximize your profits and take your business to the next level. Give us a call today or fill out our online application form to get started.