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Cannabis Business Lending by Lendica-Flourish Partnership

Power of Embedded Lending Platforms

Lendica and Flourish Software have partnered to solve the finance issues facing cannabis businesses. Through Flourish's platform, they offer specialized lending options tailored to the industry's needs, which struggle with federal regulations and cautious financial institutions.

Traditional banking hurdles for cannabis companies include federal classification barriers and banks' reluctance to provide loans. Lendica and Flourish's solutions include:

  • PayLater: Businesses can defer payments to vendors for up to 10 weeks, enhancing payment flexibility.

  • FundNow: This tool accelerates receivables, aiding in consistent cash flow.

  • DrawDown: It provides working capital for expanding businesses.

These financial products are integrated into the Flourish platform, enabling seamless cash flow management and growth opportunity pursuit for cannabis enterprises. Lendica's AI-driven underwriting offers competitive pricing and quick funding decisions. More operational data sharing can result in greater financing.

This partnership demonstrates the potential for fintech and cannabis tech to support industry growth despite regulatory and financial obstacles.

Our Opinion:

This approach is poised to revolutionize how high-risk industries like cannabis overcome financial challenges. By providing specialized lending solutions within a platform that businesses already use, they're making access to funding more seamless and intuitive than ever before. It's a win-win for everyone: businesses gain much-needed capital, while lenders tap into a market ripe for growth. This is a shining example of how we can leverage AI technology to forge new paths in alternative finance, expanding our horizons and establishing fresh avenues for success.

1-Minute Video: General Merchant Funding talks about Diversification of Alternative Lending

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ECDI (Economic & Community Development Institute) & Huntington National Bank & Conference 

The conference, titled 'Lending Innovations: A Virtual Community Lending Conference', is intended to shed light on the evolution of lending and educate participants about innovative financial solutions available for small businesses. The event will feature presentations from industry experts such as Beth Bafford, vice president of syndications and strategy at Calvert Impact Capital, and E.J. Reedy, Senior Director in Research and Policy at the Ewing Marion Kauffman Foundation.

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