mCig Announces Financing Programs for Cannabis Growers & Dispensaries
BEVERLY HILLS, CA–(Marketwired – Jul 27, 2015) – mCig, Inc. ( OTCQB : MCIG ), a leading provider of technology, products, and services for 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. Loan caps at $150,000 per signature, but there is no limit to signatures per business and 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.
For more information on mCig’s Financing Services or to apply for a loan, please visit www.mcig.org/financing
About mCig, Inc.
mCig, Inc. ( OTCQB : MCIG ) is committed to being the leading distributor of technology, products, and services for the global medical and legal recreational cannabis industry. The Company’s Master Distributor sales approach allows mCig to partner with or acquire best-of-breed companies to serve as exclusive sales representatives, distributing their products through mCig’s multiple channels and sub-distributors throughout the United States, Asia, Europe, and the United Kingdom. With a direct focus on growers and dispensaries, mCig provides a complete line of technology, products and services, including turkey growing environments; security services; software and information technology; consulting services; financing and more. The mCig E-Cigarette and Portable Vaporizer Division provides a full range of smoking products for retailers and distributors, from disposable smoking devices to high-end heirloom pieces. The company is headquartered in Beverly Hills, California. Follow mCig, Inc. on Twitter at @mCigs.
Safe Harbor Statement
Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Any forward-looking statements contained herein are based on current expectations, but are subject to a number of risks and uncertainties. The factors that could cause actual future results to differ materially from current expectations include, but are not limited to, risks and uncertainties relating to the Company’s ability to develop, market and sell products based on its technology; the expected benefits and efficacy of the Company’s products and technology; the availability of substantial additional funding for the Company to continue its operations and to conduct research and development, and future product commercialization; and the Company’s business, research, product development, regulatory approval, marketing and distribution plans and strategies.