VANCOUVER, BC, March 10, 2021 /CNW/ - Greenline is pleased to announce its new financing service, Greenline Capital, a platform providing fast and easy access to short-term capital for cannabis retailers using the Greenline platform. The platform offering is supported by Merchant Growth Ltd., a leader in providing financing solutions to small businesses in Canada.
"Due to the classification of cannabis retail as 'high-risk', one of the biggest barriers to growth in our industry is access to capital," said Calvin Ho, COO of Greenline. "That's why we're introducing Greenline Capital to help cannabis retailers grow their businesses."
We understand that the Canadian cannabis industry is not high risk - retailers sell highly regulated products in government-licensed locations with predictable high demand. This is why Greenline is collaborating with Merchant Growth to offer two new services through Greenline Capital for Greenline customers: short-term financing and lines of credit. "We are pleased to partner with Greenline POS to offer a unique financing solution to its growing customer base," said Aidan Vaandering, Director of Business Development of Merchant Growth.
Provided a business has at least 3 to 6 months of business history, Greenline customers can be approved in 24 hours for up to $500,000 CAD in financing with flexible repayment terms, and up to a $125,000 CAD line of credit.
"This amount of capital could be a game-changer for cannabis retailers looking to expand into multiple locations, or simply have a line of credit ready for financing purchase orders and marketing," said Albert Kim, CEO of Greenline. "We have heard many times from our rapidly growing customer base that access to capital has been one of the most frustrating roadblocks to expanding their businesses. Greenline Capital is designed to solve this problem."
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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