Victor Mitchell, entrepreneur, and CEO of Lead Funding, has announced the company’s first cannabis-related loan against a new grow facility in Pueblo West, Colorado. The $500,000 loan will allow the borrower to effectively grow its operations to full capacity.
Lead Funding, the sixty-million-dollar private investment firm, recently expanded its lending operations to include cannabis businesses backed by real estate. Lead Funding operates under Colorado state law and can issue loans not possible under the rules of federal lending. Lead Funding CEO and Colorado native Victor Mitchell highlights the organization’s key strategies for the cannabis industry: “We’re making loans that otherwise are not happening in the economy, and we’re really helping to grow the economy.”
The market for cannabis and cannabis-related products has expanded exponentially over the past few years, with the industry taking in $1.5 billion dollars in Colorado alone in 2017. Victor Mitchell hopes to help cultivate the state’s industry through funding small businesses and offering more holistic services, such as reviewing project plans and getting contractor referrals and contract forms for customers. By executing loans quickly, reducing red tape, and providing value-added services, Lead Funding strives not only to be a significant lender in Colorado’s cannabis industry but to set the standard for loan services.
Because the company provides broader services, it counts on and receives repeat clients. Lead Funding has the highest ratings from the Better Business Bureau and an abundance of loyal customers. The CEO notes that the organization has roughly 500 clients across six states, mostly “mom and pop” organizations. He credits his commitment to small organizations and new industries as part of Lead Funding’s success: “You also have to be very resourceful, not afraid to take risks, constantly looking at things differently, and always looking at ways to improve efficiencies.”
For more information about lending opportunities with Lead Funding, please visit https://leadfunding.com/
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