Financial Challenges in the Cannabis Industry

Though marijuana has been legalized for both medicinal and recreational use in many states, federal regulations continue to make it difficult for cannabis -businesses to access the resources they need to effectively run and grow their businesses.

Since most banks operate at the federal level, many of them avoid working with cannabis businesses to remain compliant with federal laws, making it difficult for these -cannabis businesses to get access to loans, cash advances, and traditional payment processing solutions used by most businesses.

Cannabis retailers need access to modern financing solutions that are compliant with the constantly changing regulations in the marijuana industry. This allows them to streamline company operations, hire new staff, expand facilities to satisfy the day-to-day needs of their businesses.

At Paybotic, we are committed to providing secure, reliable, and compliant financing and cannabis payment processing solutions for high-risk businesses that need access to capital quickly.

What is a Merchant Cash Advance & How Does it Work?

Merchant Cash Advance gives businesses access to a lump sum of cash that is repaid at a rate proportional to their daily sales. This means that if your sales dip, then your payments will also decrease, making it easier for merchants to manage their repayments.

Businesses can use this lump sum of cash to fund their daily business operations while maintaining a steady cash flow, making Merchant Cash Advance a great alternative to traditional business loans for suppliers, retailers, and manufacturers.

Merchant Cash Advance are not business loans, so they don’t have set repayment terms or APRs. Instead, they are designed to give merchants as much flexibility as possible.

Here is how our streamlined Merchant Cash Advance process works:

  1. You apply for a Merchant Cash Advance through Paybotic.
  2. If approved, Paybotic provides a lump sum payment within 48 hours.
  3. You use the funds to finance daily business operations.
  4. You repay the cash advance via a percentage of credit and debit sales through our payment processing system at your cannabusiness.

Merchant Cash Advance offers convenient, flexible, and fast access to funds for merchants in the cannabis industry.

Why Should You Consider a Merchant Cash Advance?

A Merchant Cash Advance is a great financing solution for high-risk businesses like those in the marijuana industry. Consider the following benefits to determine if a Merchant Cash Advance is right for your cannabis-related business:

Easy Application Process

We understand that merchants need access to cash as quickly as possible, which is why we strive to make our application process easy. Our application paperwork is straightforward, and once all necessary information is complete and submitted, we are typically able to provide same-day approval.

High Approval Rate

Cannabis businesses already have a difficult time getting access to merchant funding and payment processing solutions. At Paybotic, we have extensive experience working with high-risk businesses to provide compliant dispensary cash advance solutions. Even with our current processing volume, we maintain a 95% approval rate for active merchants.

Quick Access to Capital

Running a successful business requires steady cash flow, making it important for merchants to receive their money as quickly as possible. To ensure our clients get money when they need it, we offer funding as fast as within 48 hours after approval.

Transparent Terms & Fees

We pride ourselves on offering merchant-friendly funding solutions. Our Merchant Cash Advance comes with no hidden fees and flexible repayment options. You’re free to use the money for anything you deem necessary for your business.

Grow Your Business

When you apply and are approved for a Merchant Cash Advance, you can use the money to fund growth initiatives to help your business succeed.

This could include:

  • Marketing promotions
  • Equipment purchasing
  • Payroll financing
  • Renovation projects
  • Inventory purchasing
  • Hiring new staff members
  • And more

Cash advances give merchants the money they need to drive business growth in the competitive cannabis industry.

Get Started with Paybotic

Paybotic is determined to help cannabis dispensaries get access to the payment processing and merchant funding solutions they need to thrive. We constantly work to stay ahead of state and federal regulations to ensure all of our solutions are compliant, convenient, secure, and reliable. On top of merchant cash advances, we offer a variety of cannabis payment processing solutions to businesses in the marijuana industry, including:

  • Cannabis Card Processing
  • eChecks/ACH Processing
  • Cannabis Banking
  • Gift Card

Contact Paybotic to learn more about our MERCHANT CASH ADVANCE and other payment solutions.

Ready To Get Started?