Financial Lenders

Discussion in 'Marijuana Business and Industry' started by gravity15, Jan 2, 2023.

  1. Are new businesses as well as existing businesses having trouble finding lenders (loans for startups, merchant cash advances etc)?

    thank you for any replies
     
  2. #2 BrassNwood, Jan 2, 2023
    Last edited: Jan 2, 2023
    Welcome to the City.
    It is part of the cycle. I've seen it many times before and it is going to get a lot worse before it gets better if past experience is any kind of teacher. I remember over 12 % prime with 19.9 % second mortgages under the Carter administration. Tough times indeed.

    Obama admin played games in 2009 and blunted the mess and it wasn't as bad as it should have been. The foolish years of so called qualitative easing and near zero interest rates of the last 2 decades are going to bite us in the ass but good.

    Dumping a few trillion new dollars into circulation will be just as destructive as rampant inflation will ruin any spending power you might have had left.

    New business ventures in times like this are going to require you to put up your home as collateral on the new venture. We'd borrowed against our home to buy grandma's house from the family in 1980 after she passed and it near ate us alive when the shit hit the fan a year later and the economy tanked.

    Jobs disappeared and rents fell so eventually we couldn't rent it for what it was costing us and we were eating $200 a month on it. Even with me working a 2nd job to keep the taxes paid and my own lights and water on things were rough.
    Money will be available but at progressively more loan shark rates and terms.

    BNW
     
  3. Not on an International weed site it ain't, the war in europe in pushing us along nicely thank you,
    play the euro against the local currencies and you may wonder why do people ever work
     

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