There’s a new machinery financing option! Extraxx offers competitive financing for machinery purchases! Machinery financing that’s designed to help extraction labs expand and setup, and obtain capital for machinery purchases. Large volume CO2 and BHO extraction machines and equipment are not beyond reach, and can be financed (independent of vendors, so you can get the CO2 and BHO machinery YOU want).
There are two types of qualifying companies looking for financing in the processing and manufacturing segment: the small extraction producer who is looking for up to $50,000 in equipment financing, and larger producers who may need as much as $2 million to expand or outfit a scaled marijuana extraction operation. (Looking to take your oil one step further in refining? Secondary extraction equipment at producer’s scale is a 6-figure purchase that pays.)
Of course, there are qualifiers for each type of offer (don’t start sweating).
Smaller financing requests have less rigorous application and business visibility requirements. As an operator, you should be wary of any that have “hidden” fees (like an application fee): a company should be prepared to accept your financing request without any upfront fees. Equipment financing companies charge interest on the amount financed. Credit rating is a variable that does affect rates, but only requires disclosure of the past 3 months of business activity to reach a decision…and the decision-making process is all done online, and financing is processed in as few as 2 business days. (You’ll know within minutes if you qualify.)
For larger financing requests, marijuana operators will need anywhere between 1-3 years of backup (account statements, tax returns, licensing information), along with credit and background overview, in order to qualify.
Do you need financing for equipment purchases? You can apply right now, and receive an initial response in minutes!