Two new senate bills have been created for dispensary loans that could make it easier for cannabis dispensaries that sell medical marijuana to stay in business. Under the Small Business Banking improvement Act, accredited marijuana dispensaries would be able to apply for bank loans, and the Small Business Tax Equity Act would allow them to deduct business expenses when filing their taxes.
Dispensary Loans Law
Currently, cannabis dispensaries that sell medical marijuana in Arizona, California, Colorado, Maine, Michigan, Montana, Nevada, New Jersey, New Mexico, Oregon, Rhode Island, Vermont , Washington, Delaware, DC, Alaska & Hawaii are barred from applying for traditional forms of credit and bank loans. The bills have the support of a bipartisan group of congressmen including Stark, a Democrat, and Republican Ron Paul. However, supporters don’t expect an easy process. Private investors are the only way to get loans for marijuana businesses, and most states require the investor to be a resident of that state.
Private Investor Dispensary Loans
Private investments in the medical marijuana industry are booming due to the fact that banks are not allowed to loan money to businesses that sell or grow marijuana. Private loans are a great source of startup capital for marijuana businesses. Start-up cannabis businesses seeking private investors have received a great deal of financial aid and expert assistance. Private marijuana investors invest in all venture ideas- grow rooms, dispensaries, marijuana kitchens, marijuana websites, grow supply stores and anything else related to dispensary loans.
If you are a cannabis grower or a someone looking to start a medical marijuana dispensary, and are in need of an investor, please FILL OUT THIS APPLICATION and provide a brief description of what you need or your business proposal. We constantly receive emails and enquiries from investors looking to loan money for marijuana businesses and dispensary loans.