Orlando, FL, December 10, 2016 –Fairfax Funding, LLC., an Orlando-based alternative financing brokerage, today announced the launch of a new financing program aimed at existing marijuana businesses, as well as funding for new startups (0 – 12 months old). With the legal marijuana industry’s rapid growth across the country, this move aims to quickly address the growing demand for capital in this market. Fueled by the enormous consumer demand for the marijuana product itself, and the wide variety of ancillary products, from candies to toys and everything in between. The growers, dispensaries and other entrepreneurs in this industry are innovating at a rapid pace to meet the growing demand. Many of these business owners quickly hit a dead end when they need additional capital to properly launch or expand their operations, since traditional financing sources simply will not touch this industry. Fairfax Funding, through its portfolio of lending partners, has committed an initial $18 Million to address this need, with additional funds to follow, based on market demand
Fairfax Funding’s President, Courtney Smith, says, “Nothing kills innovation faster than a lack of capital, and we are truly excited to play an active role in this new and developing industry, to not only bring new businesses to life, but to also help existing ones to thrive as well”.
Through this financing program, existing businesses may be able to acquire up to $500k in working capital, with funding in the $10,000 -$200,000 range for startups. Additional funding up to $1 Million will be considered for qualified businesses. Applicants for funding are responsible for making sure that they meet all legal requirements to operate, and their business conforms to all federal, state and local laws.
Fairfax Funding, LLC., is an Orlando-based alternative financing brokerage that focuses on helping small businesses and startup entrepreneurs to gain broader access to a wider range of funding options than are traditionally available. Visit www.FairfaxFunding.com for more details.