First Class Cannabis Group: Financing Solutions Maintain Industry Growth

With sweeping legalization across the United States, the cannabis industry has made some serious strides over the past few years. Thirty-six states have now legalized medical marijuana, and 28 states, plus Washington DC, have legalized cannabis for recreational use. However, a cloud of uncertainty persists when it comes to cannabis finance and banking. Finding cannabis finance solutions and securing cannabis loans can be challenging.

Cannabis is big business. New Frontier Data estimates the legal cannabis market will be worth $51 billion by 2025. And yet, as it remains illegal on the federal level, larger banking institutions and payment processing companies have opted out of serving cannabis companies, leaving many cannabusinesses caught in a no-man’s land between state and federal law.

There are some progressive lawmakers taking action to move things forward though. In 2019, the House of Representatives passed the Secure and Fair Enforcement (SAFE) Banking Act, but it floundered in the Senate. The bill would ensure that in states where marijuana is legal, federally regulated banks would be allowed to work with cannabis companies to provide funding and access to banking systems. 

And yet, Congress has so far failed to lift banking restrictions on cannabis companies operating in full compliance of the law. The impact of this lack of progress at the federal level means businesses must rely on cash, which causes a number of problems for cannabis business owners, such as the inherent dangers of dealing with enormous amounts of cash. The lack of access to bank funding and loans also means cannabis companies have limited access to capital, which negatively impacts their potential for expansion.

This has created an opportunity for a small group of financial services companies to provide cannabis loans to businesses requiring capital to expand operations. This includes things like paying for inventory and new equipment; making real estate purchases and build outs; and hiring new employees. 

First Class Cannabis Group (FCCG)is a full-service cannabis-related lending firm designed to provide financing solutions* in this unique lending space. As traditional financing options are not available to finance cannabis businesses, founder Joseph Anthony recognized a need to provide short- and long-term financing to help farmers, growers, dispensaries and ancillary companies achieve their goals.

“What separates us from the rest of the cannabis and hemp lenders in the United States and Canada is our ability to think outside the box and our depth of resources in a unique market,” Anthony said.  

FCCG’s focus is on achieving long-term goals while keeping an eye on the short-term needs of business owners. With the click of a button, they offer completely custom financial solutions, including:

  • Merchant Cash Advances that provide quick access to capital for uses such as inventory, bridge funding, payroll or other expenses/opportunities that require immediate action. 
  • Equipment Financing for upgrading to the new equipment.
  • Accounts Receivable Funding that takes the guesswork out of financing by providing financing on a 30-day rolling term.
  • Banking Solutions and Merchant Bankcard Services to ease the pressures of dealing in cash.
  • Unsecured Working Capital that’s customized with the needs of the borrower in mind. FCCG is one of the only funders in the cannabis industry to provide this financing option to licensed operators and ancillary companies.

In addition to providing cannabis and hemp funding, FCCG aims to create standards and set the parameters of lending while the U.S. Government determines banking requirements for the cannabis industry. 

“We hope that the Government can take the lead from companies such as ourselves to provide a foundation for the cannabis industry to survive over the next decade,” Anthony said.

*First Class Cannabis Group takes a fee for all loans provided to valid borrowers. Fees are dependent on credit score, revenues, cash flow, accounts receivables, accounts payables, inventory, value of real estate and equipment in determining the amount of any loan. 

The post First Class Cannabis Group: Financing Solutions Maintain Industry Growth appeared first on Cannabis Now.

Friday, April 30, 2021 Headlines | Marijuana Today Daily News

Marijuana Today Daily Headlines
Friday, April 30, 2021 | Curated by host Shea Gunther

// Key Senate Chair Shifts Stance On Tying Marijuana Banking Bill To Sentencing Reform (Marijuana Moment)

// Louisiana Lawmakers Approve Marijuana Licensing Bill In Anticipation Of Legalization (Marijuana Moment)

// Louisiana Governor Says He Has ‘Great Interest’ In Marijuana Legalization Bill Advancing In Legislature (Marijuana Moment)


These headlines are brought to you by Agilent, a Fortune 500 company known for providing top-notch testing solutions to cannabis and hemp testing labs worldwide. Are you considering testing your cannabis in-house for potency? Agilent is giving away a FREE 1260 HPLC system for one year! If you are a Cultivator, processor, or cannabis testing lab you may qualify for this giveaway. Open up bitly.com/cannabis-contest to answer a few quick questions to enter to win!


// Canadian Cannabis Sales Grow 74% in February to $263 Million (New Cannabis Ventures)

// Maryland Cannabis Industry Grew By 40 Percent in 2020 (Outlaw Report)

// Legal pot in R.I. ‘inevitable’ but may not happen this year State House leaders say (Providence Journal)

// Ascend Wellness Raises $80 Million in IPO (New Cannabis Ventures)

// Gage Cannabis Turns In Solid Fourth Quarter Fiscal Year (Green Market Report)

// Bipartisan Lawmakers Want Federal Protections For Marijuana States In Next Spending Bill (Marijuana Moment)

// Maine Proposal Would Legalize Psilocybin Mushroom Therapy For Adults No Medical Diagnosis Needed (Marijuana Moment)

Check out our other projects:Marijuana Today— Our flagship title, a weekly podcast examining the world of marijuana business and activism with some of the smartest people in the industry and movement. • Marijuana Media Connect— A service that connects industry insiders in the legal marijuana industry with journalists, bloggers, and writers in need of expert sources for their stories.

Love these headlines? Love our podcast? Support our work with a financial contribution and become a patron.

Photo: Geoff Livingston/Flickr

Tuesday, April 27, 2021 Headlines | Marijuana Today Daily News

Marijuana Today Daily Headlines
Tuesday, April 27, 2021 | Curated by host Shea Gunther

// Advocates Float New Strategy To Pass Marijuana Legalization In Senate With Democratic Support In Question (Marijuana Moment)

// Montana House Revives Bill To Implement Marijuana Legalization After First Defeating It (Marijuana Moment (Daily Montanan))

// Drug Possession To Be A Misdemeanor- For Now- Under Washington State Bill Headed To Governor’s Desk (Marijuana Moment)


These headlines are brought to you by Cova Software, the number one dispensary point-of-sale system in North America! Swing over today to see why two thirds of all Canadian cannabis stores run on Cova software, which is also the fastest growing dispensary software in the U.S., with more than a hundred new client dispensaries open for business in January alone!


// These states could still legalize recreational or medical cannabis in 2021 (Marijuana Business Daily)

// Pennsylvania Marijuana Poll Shows Highest-Ever Support For Legalization (Marijuana Moment)

// Harborside Q4 Net Revenue Increases 11% to $12.6 Million (New Cannabis Ventures)

// Auxly Revenue Keeps Rising But Losses Remain (Green Market Report)

// After hitting record numbers during the pandemic’s peak new medical marijuana patients are surging again in Florida (Yahoo News (South Florida Sun-Sentinel))

// Peoples-Stokes hosts Buffalo marijuana expungement clinic (WGRZ 2 NBC)

// New York’s Native American communities eye recreational cannabis (Marijuana Business Daily)

Check out our other projects:Marijuana Today— Our flagship title, a weekly podcast examining the world of marijuana business and activism with some of the smartest people in the industry and movement. • Marijuana Media Connect— A service that connects industry insiders in the legal marijuana industry with journalists, bloggers, and writers in need of expert sources for their stories.

Love these headlines? Love our podcast? Support our work with a financial contribution and become a patron.

Photo: Soomness/Flickr

Friday, March 19, 2021 Headlines | Marijuana Today Daily News

Marijuana Today Daily Headlines
Friday, March 19, 2021 | Curated by host Shea Gunther

// Marijuana Banking Bill Reintroduced In Congress With Broad Bipartisan Support From More Than 100 Lawmakers (Marijuana Moment)

// Schumer Marijuana Bill Will Stop Big Alcohol And Tobacco From Dominating Market He Says (Marijuana Moment)

// ‘It’s inevitable’: Delaware lawmakers introduce bill once again to legalize marijuana (WDEL News)


These headlines are brought to you by MJToday Media, publishers of this podcast as well as our weekly show Marijuana Today and the most-excellent Green Rush Podcast. And check out our new show Weed Wonks!


// California’s provisional marijuana licensing crisis resurfaces possibly disrupting thousands of MJ companies (Marijuana Business Daily)

// Cresco to Buy Massachusetts Cannabis Operator Cultivate for $90 Million With Additional Potential Earnout (New Cannabis Ventures)

// Ontario Cannabis Store appoints sixth president in three years raising industry concern (Marijuana Business Daily)

// Hexo Turns In Solid Quarter As Stock Jumps On The Earnings (Green Market Report)

// Canadian cannabis producer Canopy Growth borrows $750 million (Marijuana Business Daily)

// Marijuana real estate merger creates firm worth $435 million in assets cash (Marijuana Business Daily)

// Bipartisan Senate Bill Would Give Marijuana Businesses Access To Insurance Coverage (Marijuana Moment)

Check out our other projects:Marijuana Today— Our flagship title, a weekly podcast examining the world of marijuana business and activism with some of the smartest people in the industry and movement. • Marijuana Media Connect— A service that connects industry insiders in the legal marijuana industry with journalists, bloggers, and writers in need of expert sources for their stories.

Love these headlines? Love our podcast? Support our work with a financial contribution and become a patron.

Photo: Kevin Harber/Flickr

Thursday March 18, 2021 Headlines | Marijuana Today Daily News

Marijuana Today Daily Headlines
Tuesday, March 16, 2021 | Curated by host Shea Gunther

// Congressional Marijuana Banking Bill Will Be Reintroduced On Thursday (Marijuana Moment)

// New Mexico Marijuana Legalization Bill Heads To Senate Floor Following Contentious Committee Hearing (Marijuana Moment)

// Schumer Weighs In On New York Legal Marijuana Talks Applauding Legislature And Snubbing Cuomo (Marijuana Moment)


These headlines are brought to you by Cova Software, the number one dispensary point-of-sale system in North America! Swing over today to see why two thirds of all Canadian cannabis stores run on Cova software, which is also the fastest growing dispensary software in the U.S., with more than a hundred new client dispensaries open for business in January alone!


// Montana’s legalization plan: Homegrow bans THC caps 20% taxes. Yay? (Leafly)

// Regulators crack down on Michigan credit unions marijuana banking (Marijuana Business Daily)

// Field Trip Closes On $95 Million Supersized Offering (Green Market Report)

// Sundial Reports Full Year and Fourth Quarter 2020 Financial and Operational Results (Cision PR Newswire)

// Green Thumb Industries Reports Solid Quarter Beats Estimates (Green Market Report)

// GrowGen Makes Seventh Acquisition And It’s Only March (Green Market Report)

// New Hampshire’s Medical Marijuana Dispensaries Now Support Letting Patients Grow Their Own (Marijuana Moment)

Check out our other projects:Marijuana Today— Our flagship title, a weekly podcast examining the world of marijuana business and activism with some of the smartest people in the industry and movement. • Marijuana Media Connect— A service that connects industry insiders in the legal marijuana industry with journalists, bloggers, and writers in need of expert sources for their stories.

Love these headlines? Love our podcast? Support our work with a financial contribution and become a patron.

Photo: kidTruant/Flickr

Friday, February 19, 2021 Headlines | Marijuana Today Daily News

Marijuana Today Daily Headlines
Friday, February 19, 2021 | Curated by host Shea Gunther

// N.J. legal weed revived again as Murphy gets another reprieve from lawmakers. But it’s far from a done deal. (NJ.com)

// Draft of bill aims to curb underage use of concentrated THC set potency cap in Colorado (KOAA News 5 NBC)

// North Dakota Lawmakers Approve Marijuana Legalization Bill In Committee (Marijuana Moment)


These headlines are brought to you by Cova Software, the number one dispensary point-of-sale system in North America! Swing over today to see why two thirds of all Canadian cannabis stores run on Cova software, which is also the fastest growing dispensary software in the U.S., with more than a hundred new client dispensaries open for business in January alone!


// Cannabis bill with no commercial production cap passes committee (Taos News)

// Tax Court Rules Against Harborside In 280E Case (Green Market Report)

// Oklahoma medical marijuana sales surpass $800 million for 2020 (Marijuana Business Daily)

// Oregon marijuana firms enjoy booming market fueled by pandemic consumers shunning illicit suppliers (Marijuana Business Daily)

// Oregon marijuana firms enjoy booming market fueled by pandemic consumers shunning illicit suppliers (Green Market Report)

// Tilray Delivers Solid Quarter As Revenue Rises 20% (Green Market Report)

// NFL Explores How Marijuana And CBD Can Be Used As Opioid Alternatives For Players (Marijuana Moment)

Check out our other projects:Marijuana Today— Our flagship title, a weekly podcast examining the world of marijuana business and activism with some of the smartest people in the industry and movement. • Marijuana Media Connect— A service that connects industry insiders in the legal marijuana industry with journalists, bloggers, and writers in need of expert sources for their stories.

Love these headlines? Love our podcast? Support our work with a financial contribution and become a patron.

Photo: Phil Murphy/Flickr

Friday, February 12, 2021 Headlines | Marijuana Today Daily News

Marijuana Today Daily Headlines
Friday, February 12, 2021 | Curated by host Shea Gunther

// Virginia Marijuana Legalization Bill Takes Another Step Toward Finish Line (Marijuana Moment (Center Square))

// Colorado Marijuana Sales Almost Hit $2.2 Billion in 2020 (Denver Westword)

// South Dakota governor to delay medical cannabis program until 2022 (Marijuana Business Daily)


These headlines are brought to you by Atlantic Farms, a Maine-based multistate cannabis business with operations in Maine and Massachusetts. Atlantic Farms is looking for people to help it grow and evolve as investors. Open up TheAtlanticFarms.com for more on the company and email info@theatlanticfarms.com to learn about investment opportunities.


// Colorado awards first adult-use cannabis delivery license (Marijuana Business Daily)

// Cannabis MSO Green Thumb nets $100M through initial US stock sale (Marijuana Business Daily)

// Columbia Care Raises C$25 Million Primarily From Single Institutional Investor (New Cannabis Ventures)

// Canopy Growth Records $829 Net Loss In Third Quarter (Green Market Report)

// Aurora Cannabis Reports $292 Million Net Loss Even As Revenue Rises (Green Market Report)

// Marijuana Legalization Has Majority Support In North Carolina Poll Finds (Marijuana Moment)

// Weed stocks tank as Reddit trade loses momentum (CNBC)

Check out our other projects:Marijuana Today— Our flagship title, a weekly podcast examining the world of marijuana business and activism with some of the smartest people in the industry and movement. • Marijuana Media Connect— A service that connects industry insiders in the legal marijuana industry with journalists, bloggers, and writers in need of expert sources for their stories.

Love these headlines? Love our podcast? Support our work with a financial contribution and become a patron.

Photo: imageMatters1/Flickr

Wednesday, January 27, 2021 Headlines | Marijuana Today Daily News

Marijuana Today Daily Headlines
Wednesday, January 27, 2021 | Curated by host Shea Gunther

// Chuck Schumer Lists Marijuana As A Priority In First Post-Election Cannabis Comments (Marijuana Moment)

// Massachusetts city drops onerous ‘impact fee’ on cannabis businesses (Marijuana Business Daily)

// Top New York Official Responds To Marijuana Advocates’ Criticism Of Governor’s Legalization Plan (Marijuana Moment)


These headlines are brought to you by the upcoming Homegrown Weed Summit, the first and only online event dedicated to teaching you how to grow elite cannabis from seed to harvest right in your home. The Homegrown Weed Summit is coming up on February 15 and will feature four days of online events with noted cannabis pros like Tommy Chong, Danny Danko, and Ed Rosenthal. You can learn more about the Homegrown Weed Summit and get your free ticket now over at HomeGrownWeedSummit.com!


// New Mexico Governor Pushes For Marijuana Legalization In State Of The State Address (Marijuana Moment)

// Police In New Jersey’s Largest City Continue Marijuana Arrests At Pre-Legalization Rate (Marijuana Moment)

// Maine labs receive go-ahead to start testing adult-use cannabis (WGME 13 CBS)

// Martha Stewart Launches Pet CBD Products ()

// Arizona’s initial adult-use marijuana licensing leaves some cities underserved (Marijuana Business Daily)

// Lawmakers in Costa Rica ask government to speed up medical cannabis debate (Tico Times)

// Did iAnthus Bankers Conspire To ‘Wipe Out’ Shareholders? (Green Market Report)

Check out our other projects:Marijuana Today— Our flagship title, a weekly podcast examining the world of marijuana business and activism with some of the smartest people in the industry and movement. • Marijuana Media Connect— A service that connects industry insiders in the legal marijuana industry with journalists, bloggers, and writers in need of expert sources for their stories.

Love these headlines? Love our podcast? Support our work with a financial contribution and become a patron.

Photo: John Brighenti/Flickr

Friday, December 11, 2020 Headlines | Marijuana Today Daily News

Marijuana Today Daily Headlines
Friday, December 11, 2020 | Curated by host Shea Gunther

// Exclusive: Cannabis Review Site Weedmaps Nears $1.5 Billion Deal to Go Public – Sources (U.S. News & World Report (Reuters))

// Canopy Growth shuttering facilities across Canada abandons outdoor marijuana cultivation (Marijuana Business Daily)

// Detroit expected to issue recreational marijuana permits by summer 2021 (Marijuana Business Daily)


These headlines are brought to you by Green Worx Consults, a company specializing in project management, workflow mapping and design, and Lean & 6 Sigma process. If you could use help making your business better at business, get in touch with Green Worx Consults.


// New Mexico’s medical marijuana sales rise as prospects for recreational legalization improve (Marijuana Business Daily)

// California Should Decriminalize Psychedelics And Allow Healing Ceremonies Oakland Resolution Says (Marijuana Moment)

// Legislature extends a lifeline to Massachusetts hemp farmers (Boston Globe)

// LeafLink Closes $40 Million Series C Round (Green Market Report)

// Wyoming Is Ready To Legalize Marijuana New Poll Shows (Marijuana Moment)

// California cannabis growers seek cheaper mixed-light license fees saying current cost too high (Marijuana Business Daily)

// Yep more people in the U.S. are smoking weed during the pandemic (Regina Leader-Post)


Check out our other projects:Marijuana Today— Our flagship title, a weekly podcast examining the world of marijuana business and activism with some of the smartest people in the industry and movement. • Marijuana Media Connect— A service that connects industry insiders in the legal marijuana industry with journalists, bloggers, and writers in need of expert sources for their stories.

Love these headlines? Love our podcast? Support our work with a financial contribution and become a patron.

Photo: /Flickr

Tuesday, December 8, 2020 Headlines | Marijuana Today Daily News

Marijuana Today Daily Headlines
Tuesday, December 8, 2020 | Curated by host Shea Gunther

// The House passed the MORE Act. Is weed legal now? (Leafly)

// Nebraska advocates aim for a marijuana legalization twofer in 2022 (Leafly)

// N.J. lawmakers reach deal on legal weed bill, plan to vote later this month (NJ.com)


These headlines are brought to you by Pall Food & Beverage, makers of professional filtration solutions for cannabis oil processing. If you need technology to clarify cannabis oil, to remove color, and to detect pathogens, look no further than Pall!


// GrowGeneration to Raise $125 Million Selling Stock (New Cannabis Ventures)

// U.S. cannabis firm Verano to go public with US$2.8B valuation (BNN Bloomberg)

// Ayr Strategies to Issue $75 Million 4-Year Notes at 12.5% (New Cannabis Ventures)

// Cannabis Sales in 5 Western States Grow in Excess of 30% During October (New Cannabis Ventures)

// Bill To Legalize Marijuana In Mexico Advancing In Committees Ahead Of Final Floor Vote (Marijuana Moment)

// Soda, gummies and Elbow chocolates: KC plant makes Missouri’s first marijuana edibles (Kansas City Star)

// House-Passed Marijuana Legalization Bill Would Add $13.7B To Federal Budget Congressional Analysts Say (Marijuana Moment)


Check out our other projects:Marijuana Today— Our flagship title, a weekly podcast examining the world of marijuana business and activism with some of the smartest people in the industry and movement. • Marijuana Media Connect— A service that connects industry insiders in the legal marijuana industry with journalists, bloggers, and writers in need of expert sources for their stories.

Love these headlines? Love our podcast? Support our work with a financial contribution and become a patron.

Photo: Don Goofy/Flickr