So... I found this thing...

Discussion in 'Marijuana Business and Industry' started by majinp, Jan 11, 2019.

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Good idea?

  1. Yes

    0 vote(s)
    0.0%

  2. No

    3 vote(s)
    100.0%
  1. #1 majinp, Jan 11, 2019
    I found a company that lends cash money to growers and dispensaries. My friend said that they give up to 3 million dollars. Would this would be a good idea if I wanted too buy more land?
     
  2. #2 WeedCat, Jan 11, 2019
    Find out what their interest amount is and go to a financial expert and start asking questions.
     
  3. #3 majinp, Jan 11, 2019
    They offered me 8%
     
  4. #4 WeedCat, Jan 11, 2019
    I would get all the details and talk to someone who is excellent at finance. If you have a CPA, many times they have a finance expert that can help you. Are you wanting to be a dispensary owner or a grow?
     
  5. #5 majinp, Jan 11, 2019
    Right now I'm focusing on growing but in the future, watch.
     
  6. #6 majinp, Jan 11, 2019
    Where can I look to find more options, if I wanted to borrow? You know, being cannabis industry and all?
     
  7. #7 WeedCat, Jan 11, 2019
    Good, that's the attitude you need. Start listening to a great Podcast called How I built this. It will inspire, and give you an idea of how others have started their business from scratch. You might get some real gems of what to do and what not to do. I'm not sure why it isn't going to the home page but you can find it quite easy
     
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  8. #8 majinp, Jan 11, 2019
    Sick. Thanks.
     
    • Like Like x 1
  9. #9 BrassNwood, Jan 11, 2019
    Secured loan ( real estate-land ) is about 3.8% so 8% sounds like a loan shark for an unsecured loan ( no assets )

    BNW
     
    • Like Like x 1
  10. #10 WeedCat, Jan 11, 2019
    Wish I can help you but I simply don't know. I think if I was going in this direction, I would find a farm that is struggling and try to talk them in to turning it in to a canna grow. Come up with a business plan and start knocking on farm doors. Many farmers are struggling and it might be that perfect solution for them and you. Then, once you have this, spend the money on a lawyer who will help protect you and the farmer.
     
    • Like Like x 1
  11. #11 majinp, Jan 11, 2019
    Can I get that from a private lender?
     
  12. #12 Iceman2494, Jan 11, 2019
    You my friend needs to pray trump keeps his shut down going . These gov funded farms won’t get paid = cheap farms .


    Sent from my iPhone using Grasscity Forum
     
    • Funny Funny x 1
  13. #13 Antdro707, Jan 11, 2019
    8% interest is a lot, how long in the loan for?
     
  14. #14 majinp, Jan 14, 2019
    12 months.
     
  15. #15 GD1966, Jan 14, 2019
    12 months? You must be borrowing a very small amount. Either that or your payments would be sky high!


    Sent from my iPhone using Grasscity Forum
     
  16. #16 GorillaGherkin, Jan 14, 2019
    Ask a lawyer to explain it to u could b worth payin his fee for 2-4 hrs to insure ya make a good decision
     
  17. #17 Gelato41, Jan 20, 2019
    8% for a high risk unsecured loan is not that high. Which actually worries me a little.

    Average personal unsecured loan in California is about 10-12% with excellent credit history.

    I do personal home downpayment loans for 8-11% usually.
     
    • Like Like x 1
  18. #18 letsmokeasweet, Jan 21, 2019
    make sure you research the company and loan officer. a lot of scams are out there involving loans....
     
  19. #19 Foloon, Jul 22, 2021
    it is better to contact a professional company
     

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