Cannabis Lending with Options

In a recent blog “The Challenges of Cannabis Lending” I noted that many brokers claim they can get your Cannabis loan request closed but seem more interested in collecting upfront fees to do so. Understandably, many service businesses are fee-based, that’s how they are structured. There’s nothing wrong with an upfront fee, provided it is reasonable. However, many brokers seem to take advantage of their Cannabis clients by not delivering the expected financing.

At Capital Biz Solutions, we focus on vetting specific lenders that always deliver on-time funding, provided the prospect/client qualifies. These lenders are experts in the industry they serve. We have selected very seasoned lenders in the Cannabis industry, that provide creative structures to suit the needs of the client. They have years of experience in this lending space and are well aware of what the competition currently offers.

Our lender’s and underwriters’ proposals provide numerous options that create an abundance of flexibility to assist their client (s) with the project at hand. So, if you’re thinking of financing your Cannabis project we have the answers and lending facilities to handle all aspects of your project from construction, to equipment purchasing/leasing, mergers and acquisitions, and all other components. Please visit us on the web at https://www.capitalbizsolutions.com or simply call us at 508 864 7758. You’ll be glad you did!

Why Entrepreneurs Should Continue to Invest in Themselves

Owning your own business is not for the faint of heart. It takes an unwavering commitment and an extremely tenacious individual that needs to stay focused. Some years are better than others, and this year most businesses have been severely impacted by the COVID 19 Pandemic.

Many businesses are currently struggling to stay open as their cash flow has been compromised with restricted hours and lockdowns. Government loans such as the PPP program, EIDL loans, and Main Street loans have certainly been a lifeline to these businesses. There may be more PPP funding on its way, prior to year-end, if congress can get a deal passed. However, most of the current PPP funding has been used, and now many businesses are scrambling to survive.

In addition to receiving assistance from the Cares Act programs, many businesses have fallen short on their business cash flow and have used their personal revolving credit to sustain themselves. In many instances, this has personally leveraged them compromising their personal credit scores. The proverbial catch 22 is now in play. So what’s a business entrepreneur to do?

We highly recommend that they pay close attention to their personal fico scores as they will pay less for anything purchased personally and in their business, saving thousands of dollars over a lifetime. There are companies out there that call themselves credit repair companies but they seldom drill down enough to have a significant impact.

Capital Biz Solutions has extremely effective resources that have turned loan declines into approvals. We highly recommend a continual investment and focus on improving personal fico scores, reducing DTI ratios, and personal revolving usage. Implementing these practices always pay dividends in the long run. They also provide comfort to lenders displaying an ability to pay current obligations and improving chances of a loan approval. We are here to assist business owners who need credit repair and improvement with credit repair specialists. Please visit us on the web at https://www.capitalbizsolutions.com/ or simply call us at 508 864 7758. You’ll be glad you did!

The Challenges of Cannabis Lending

Finding the appropriate lending source in the Cannabis Industry can be extremely challenging. Debt lending, asset-based lending, and equipment leasing in the industry seem to have little to no continuity. Additionally, rates and terms seem to have a vast array of components and are rarely fluid. To add to the confusion, many brokers in the industry seem to be nothing more than fee and file collectors. Many of them do not concentrate on closing the deal because most times they simply can’t.

Why is that? Many brokers who claim they are Cannabis friendly and can get the deal closed are imposters and focus on fee collecting and bogus term sheets. They typically waste their prospect’s time because they do not have the proper resources on hand. Capital Biz Solutions has over twenty years of experience in dealing with lending sources.

Our focus is to get your deal to the proper lending source and get it closed. We have aligned ourselves with the experts in the Cannabis lending industry that will serve you well now, and in the future. Capital Biz Solutions has broker affiliations with key lenders in the Cannabis industry throughout the US. We have one goal and are truly focused on closing your loan, and we do! So, if you are a Cannabis entrepreneur, and need funding resources to grow your Cannabis business, please check us out on the web at https://www.capitalbizsolutions.com/ or simply call us at 508 864 7758. You’ll be glad you did! We look forward to growing your Cannabis business.

Choosing The Right Lender for Working Capital

There are hundreds of online lending companies out there over the internet. Many claim their short-term loans close in less than 10 days and are the best deals you can find. The problem is that most of these unsecured merchant cash advances are usually quite costly. Many brokers aren’t interested in providing different options for their prospects or clients as long as they close the deal, no matter the cost to the client.

Capital Biz Solutions takes a much different approach to each and every loan request. We are not a one size fits all broker/lender. We have developed hundreds of broker affiliations with niche lenders across the US to better serve our clients. We take an interest in our client’s business and then we scour the marketplace to see where the client best fits and what type of loan facility is appropriate at that time. In several instances, the business owner may think they need a certain type of loan facility when actually it may not be the proper solution for their loan request.

Capital Biz has access to working capital in several different forms, such as term loans, working capital revolvers, cash-out refinancing on commercial properties, and flip and fix properties. We also have a very diverse portfolio of loan types such as real estate loans, investment banking loans starting at 5Million, medical and dental lending, and Cannabis loans to name a few.

We provide options for our clients, consult with them on numerous occasions, and make sure they have a complete understanding of the terms and conditions of the loan agreement they are about to enter into. Let Capital Biz Solutions do the work for you, while you do what you do best, generate cash flow for your ongoing enterprise. Please visit us on the web at https://www.capitalbizsolutions.com/ or call us at 508 864 7758. We are looking forward to assisting you with your working capital needs #customeroptions #workingcapital #businessgrowth

The Importance of Fico Scores

What is a FICO® Score?

A FICO Score is a three-digit number based on the information in your credit reports. It helps lenders determine how likely you are to repay a loan. This, in turn, affects how much you can borrow, how many months you have to repay, and how much it will cost (the interest rate).When you apply for credit, lenders need a fast and consistent way to decide whether or not to loan you money. In most cases, they'll look at your FICO Scores.

You can think of a FICO Score as a summary of your credit report. It measures how long you've had credit, how much credit you have, how much of your available credit is being used, and if you've paid on time. Not only does a FICO Score help lenders make smarter, quicker decisions about who they loan money to, it also helps people like you get fair and fast access to credit when you need it. Because FICO Scores are calculated based on your credit information, you have the ability to influence your score by paying bills on time, not carrying too much debt, and making smart credit choices.

Thirty years ago, the Fair Isaac Corporation (FICO) debuted FICO Scores to provide an industry standard for scoring creditworthiness that was fair to both lenders and consumers. Before the first FICO score, there were many different scores, all with different ways of being calculated (some even including gender and political affiliation).

Learn more about the history of FICO Scores.

Why are FICO Scores important?

FICO Scores help millions of people like you gain access to the credit they need to do things like get an education, buy a first home, or cover medical expenses. Even some insurance and utility companies will check FICO Scores when setting up the terms of the service.

The fact is, a good FICO Score can save you thousands of dollars in interest and fees as lenders are more likely to extend lower rates if you present less of a risk for them.

And overall, fair, quick, consistent, and predictive scores help keep the cost of credit lower for the entire population as a whole. The more accessible credit is, the more lenders can loan and the more efficient they can be in their processes to drive costs down and pass savings on to the borrowers. Capital Biz Solutions has loan programs where business owners can still obtain working capital even with subpar credit scores. Please visit us on the web at www.capitalbizsolutions.com or simply call us at 508 864 7758.

See all the ways your FICO Scores can help you.