Greenline Capital surpasses $1m funded to help cannabis retailers expand
VANCOUVER, BC, Oct. 25, 2021 /CNW/ - Greenline POS is pleased to announce its financing service, Greenline Capital, has surpassed $1M in funding for its Canadian cannabis retail customers.
The success of the Greenline Capital financing platform is in its ability to provide fast and simple access to short-term capital for cannabis retailers using Greenline software.
Greenline Capital is supported by Merchant Growth Ltd., a leader in providing financing solutions to small businesses in Canada. Together, Greenline and Merchant Growth help retailers break through the high-risk classification currently imposed in cannabis retail by providing convenient and accessible financing for Canadian cannabis businesses. Kevin Clark, Chief Revenue Officer for Merchant Growth notes that "this milestone is a testament to our joint commitment to support these retailers and more broadly the small business marketplace, so in need for capital at this time."
Greenline Capital was designed to solve the problem of cannabis retailers not being able to access credit to expand their businesses. Now they can access capital for financing inventory, marketing or to expand into multiple locations.
Greenline customers can be approved within 24 hours, provided a business has at least 3 to 6 months of business history, for up to $500,000 CAD in financing and up to a $125,000 CAD line of credit, with flexible repayment terms.
"We are extremely proud to have funded over $1 million towards the growth and expansion of our customers," says Albert Kim, Greenline CEO. "Greenline is more than just software - our goal is to help cannabis retailers grow, and our Capital initiative goes a long way towards that. We're excited to continue our partnership with Merchant Growth and continue to support the industry going forward."
About Greenline
Greenline is a compliant and scalable Canadian cannabis retail infrastructure provider, powering licensed cannabis retail operations across Canada with everything from in-store point-of-sale to online e-commerce with a strong marketplace of app integrations. Learn more at https://getgreenline.co
About Merchant Growth Ltd.
Merchant Growth is a leading Canadian financial technology company that specializes in small business financing. Over the past decade, Merchant Growth has supported Canadian businesses with hundreds of millions of dollars in growth financing. Using an innovative approach that includes the latest technology, complete transparency and thoughtful customer care, Merchant Growth is committed to helping make business financing easy to understand and accessible. To learn more, visit: www.merchantgrowth.com.
SOURCE Greenline POS
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