Tips to Help You Get Cannabis Equipment Financing
If you’re trying to get in the Cannabis game, you need reliable equipment for extractions. However, it can be expensive when you have no funds saved for the ideal facility. You’ll need some assistance getting loans for building a facility, getting equipment, and other things to help with your cannabis business. Here are some tips to help you get cannabis equipment financing.
Write a Business Plan
It doesn’t matter if you’re working with coloradoextraction.com or another company, have a solid business plan to help prove to people that it’s a legitimate brand you’re building. The cannabis business has lots of regulations in it, which constantly change. When trying to get equipment financing, you want to get your lenders on board.
List some of the following things in your plan:
- Operating costs
- When you plan to turn a profit
- How your business stands out against competitors
- What facility you’ll use for your business
- Your suppliers
Put things in place before you can convince someone to help you with financing the equipment for your business.
Pick the Equipment You Can Finance
Once you’ve got a business plan together, make sure you have the equipment you need to help your business. Here are some of the common ones you can finance:
HVAC units: You need specialized HVAC units to keep the right room temperature and humidity necessary to grow your crops properly. Consistency can help your plants grow at the same rate. Make sure that these are energy-friendly, and they can help mitigate the strong odors released from the plants.
Lighting equipment: If you plan to grow your cannabis indoor, you need perfect artificial lighting for your harvest.
Security equipment: You don’t know if someone will steal or tamper with your crops. Make sure you have video surveillance, alarms, and even digital storage to keep track of everything.
CO2 Extractors: Extractors are in the five-figure price range, so business financing is a must to have these machines for your brand. They help you extract oil from the plants to help you create THC or CBD.
You can choose financing, such as a dealership, private vendor, or get some cannabis equipment at an auction. Just be clear on the marijuana grow laws in your state.
When you’re starting your cannabis business, find equipment from someone in the field that can charge you a fair rate for financing. It’ll go a long way to helping you create a successful brand.