I don't consider you a basher at all as you have been on the board along time and haven't always been negative.. Banks aren't even able to provide credit card service to dispos and currently it's basically an all cash industry.
I think banks are a long way from giving big loans to grows that they essentially know nothing about its hard for regular business' to obtain large loans as it is and these are much less risky companies.
Also phot has deep knowledge of the MJ industry and will be able to work with growers and dispos and evaluate them from an expert position.. I believe growlife already has inked many deals and the GIFT program is likely already underway. Phot has already entered the market and is working with many of the big grows in CO giving them a competitive advantage.
They will also likely be able to provide these grows with excellent pricing on the equipment they sell instead of just providing them with capital and allowing them to buy tons of equipment at market price.. Growlife will be able to price equipment better because they will receive some % of the profits from these grows and this will lead growers to choose phot over traditional financing options ( which currently aren't even an option)
I think the fact they are already in the market while banks wait on the sidelines and the expert knowledge they possess.. Along with an excellent transparent management staff who's reputations are on the line (also canx investors to be named). Grows will lean towards the MJ friendly lender who actually knows about growing and the MJ industry
When in the past few years have banks loaned out money "liberally". I appreciate your balanced approached. I have to think that they would be strategic in their vetting process? Not liberal. Would this not take a while? Don't you think that if this gift program lays out the way some of us are hoping that within this sectors climate that phot is in a good if not great position to capitalize?
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