Cannabis industry tailor-made Ipass direct lender loans concludes $ 125 million credit facility – New Cannabis Ventures

Bespoke Financial Raises $ 125 Million to Expand Lending Capacity and Fund Growth of Cannabis Industry

Additional capital will fuel rapid growth as demand for debt financing accelerates

LOS ANGELES, December 01, 2021 (GLOBE NEWSWIRE) – Bespoke Financial, the nation’s leading cannabis-focused fintech lending platform, today announced the closing of a $ 125 million credit facility.

This Ipass direct lender loans injection of capital from institutional investment funds is a strong demonstration of confidence in cannabis debt financing as well as in Bespoke Financial’s approach to working with these companies. The company has effectively integrated cannabis lending by providing a comprehensive technology platform and data-driven application process allowing licensed cannabis operators to access funding quickly and transparently as evidenced by prequalification. automated system for financing dispensaries Ipass direct lender loans"}” data-sheets-userformat=”{"2":513,"3":{"1":0},"12":0}”>Ipass direct lender loans

This additional lending capacity demonstrates that more institutional investment firms are recognizing the potential of the cannabis industry. Institutional investors seek high returns and seek to minimize volatility, especially through investments that are not subject to future market disruptions related to COVID. Cannabis debt financing ticks all of these boxes.

George Mancheril, Managing Director of Bespoke Financial

Bespoke Financial serves as a conduit for larger pools of capital to enter the space in a structured and scalable way ahead of federal regulatory change, if and when it does.

Bespoke has been at the forefront of the industry trend towards debt financing, working with large and small businesses in all types of licensing, including brands like Jeeter, Buddies, Claybourne Co. and Friendly Farms. Since the company’s launch over three years ago, Bespoke has funded a growing number of companies spanning the entire cannabis supply chain. The company now works across the country in 12 regulated markets from California to Maine, funding lines of credit for amounts of up to $ 15 million.

“The increase in debt financing is an encouraging and important moment in the history of the industry and will allow smart operators to evolve and remain nimble without sacrificing growth opportunities,” said Mancheril. “Debt capital is a tool that has been a mainstay of traditional business operations and is now finally widely available to cannabis companies of all sizes. We think this is really exciting news, not just for Bespoke and our team, but for the industry as a whole.

Retailers interested in financing a dispensary can pre-qualify for a custom revolving line of credit by completing this simple online application.

About Bespoke Financial

Founded in 2018, Bespoke Financial is the nation’s leading licensed fintech lender focused on the cannabis industry and focused on bridging the gap between institutional investors and cannabis. Led by a team of leading experts in the fintech and cannabis industries, Bespoke Financial provides clients with access to working capital by providing short-term loan options to fuel business growth in the legal cannabis industry, reducing cash cycles and providing cannabis companies with greater financial flexibility. The company is backed by respected venture capital firms such as Casa Verde Capital, Sweat Equity Ventures, Greenhouse Capital Partners, Outbound Ventures, Ceres Group Holdings and Vista Investment Group. For more information, visit www.bespokefinancial.com or contact us on LinkedIn.

Original press release

Posted by NCV Newswire

NCV News Wire

New Cannabis Ventures’ NCV Newswire aims to curate high-quality content and information on the leading cannabis companies to help our readers filter the noise and stay on top of the most important news in the cannabis market. The NCV Newswire is organized by hand by a publisher and is by no means automated. Do you have confidential topical advice? Get in touch.

Receive our Sunday newsletter