MCIG financing business arm- Announced
mCig Announces Financing Programs for Cannabis Growers & Dispensaries
BEVERLY HILLS, CA—(July 27, 2015) - mCig, Inc. (OTCQB: MCIG) a leading provider of technology, products, and services for all aspects of the global medical and legal recreational cannabis industry, announced today that the Company is now offering a complete range of financing services for marijuana growers and dispensaries. This program is designed to provide cannabis entrepreneurs with easy access to much needed startup and operational capital necessary to develop their business and underscores mCig’s commitment to not only seek out innovative products and distribute them, but now even help the industry to buy them.
mCig’s flexible loan programs are designed for businesses that have been turned down for conventional bank loans due to banks’ refusal to loan to cannabis companies and ensures investment capital is quickly and affordably available with minimal paperwork and no asset collateral. mCig has partnered with a third-party lender with expertise in sub-prime debt lending, eliminating any risk to mCig. Loans cap at $150,000 per signature, but there is no limit to signatures per business, and they are structured similar to a credit card to help finance equipment and most startup needs for entrepreneurs in the cannabis industry.
“It was clear that our customers needed capital to grow, so we partnered to fill a missing component that will complement our existing offerings and make it easier to close a sale,” said Paul Rosenberg, CEO of mCig. “As an example, our grower services can now complete a full singular turnkey package to provide financing for the CannaPod growing structure, the actual grow equipment that goes inside, a security system, an extraction machine, and even the consulting to efficiently run that singular grow package."
As mCig completes its corporate restructuring, this final piece of financing enhances the Company’s vision to service growers and dispensaries, both of which share the needs of security, consultative services and financing.
