Information about financing your business
Apeks Supercritical does not offer in-house financing, but we are able to refer you to third party financiers.
Improving Your Credit Score
Having the right investor or bank to infuse your startup or existing business with the necessary funds can be a major turning point in your business and career trajectory. Many investors and bankers look at your team’s credit scores and a bad score could be problematic.
If you have a low credit score, you need to start focusing on improving it immediately.
- Excellent Credit: 781 – 850
- Good Credit: 661-780
- Fair Credit: 601-660
- Poor Credit: 501-600
- Bad Credit: below 500
It often takes 6-12 months for a customer to finalize an extraction deal and if you start early enough you can raise your credit. This reduces your risk and interest payments drastically. Having business partners with a healthy credit score also be helpful.
- Loan size: $25,000 – $1,000,000
- Collateral: lighting, HVAC, benching, extractors, irrigation, CCTV, and other related equipment
- Business: the owner must be licensed and regulated by the state. Personal guarantees required from all owners. Minimum 650 credit score. No bankruptcies in the last 7 years. No unresolved tax liens.
- Application only: up to $75,000
- Documentation Required: Completed credit application, copy of vendor invoice/ quote, last 4 months business bank statements, copy of state cannabis license
- Time in Business: 2+ years
- Terms: 2 to 4 years
- Interest Rates: 15-18%
- Documentation Required for Transactions Over $75K: same as above plus personal and corporate tax returns for the last 3 years, personal financial statements for all owners, debt schedule, latest interim financial statements
Start Up Program:
- Up to $150K Line of Credit.
- Based solely on personal credit
- 0% introductory rate from 9-22 months
- Up to 18% interest rate after introductory period
- The owner must be licensed and regulated by the state
- Personal guarantees required from all owners
- Minimum 650 credit score
- No bankruptcies in the last 7 years
- No unresolved tax liens