6 Mistakes Marijuana Business Owners Make When Seeking Funding: Part I
As a veteran in commercial financing for marijuana businesses, I have seen many business owners struggle to obtain funding. There are several common mistakes I’ve seen time and time again. I’ll cover the top six mistakes I often see and what to avoid when seeking funding for your business.
Not asking the right questions before you start your presentation
When a funding source is looking to invest in or lend to a business, it has a set of criteria that business must fulfill. Lenders look at things very differently than investors do. By nature, lenders are focused on the return on their investment with regular payments over a period of time at a set rate. Investors are looking to hit a home run one out of every 10 times they supply capital, and expect to have to wait for an exit event in two to five years.
With these two...
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