Vape Business Financing
At VapeMentors, we know from personal experience how difficult it can be to secure financing for a vape space business.
If you try to get a conventional loan for a vape shop, banks won’t usually touch you unless you have something to secure their loan against.
We found a company that is not just willing but experienced in working with entrepreneurs in the vape space. We recommend Ventury Capital.
Why Ventury Capital?
Ventury Capital has helped launch dozens of vape shops. They help vape space businesses at all phases — from start-ups to mature businesses in expansion mode — access the financing they need to grow.
“Ventury understands entrepreneurs because we were founded by entrepreneurs.”
Our trusted colleague Nick Bentley will personally walk you through the process of raising the capital you need to meet your business needs and help you to succeed. Kevin Harrington, Bentley’s partner in Ventury Capital, was one of the original “sharks” on Shark Tank!
Financing a New Vape Shop
If you need a loan for a start-up, you need a good credit rating, which means over 700 FICO. Ventury offers flexible terms to suit your needs.
With the lowest rates, fastest approvals, and streamlined process, Ventury will make the entire process easy and seamless for would-be vape space business owners.
Here is an overview of the guidelines:
- Does not report on personal credit
- Requires 700 plus credit scores
- Maximum four (4) inquiries in the last six (6) months.
- No judgements, collections, tax liens, bankruptcy, or other adverse credit
- 0% interest for 6-12 months with no annual fees
- Documentation required: application and tri-merge credit report
- Must currently have access to $15,000 in personal credit card limits (combined)
- Each specific credit card must have a balance of no more than 40% of the high credit limit.
This is true business credit. The full amount given (max out) for this program will not negatively affect the business credit score as long as minimum payment are made. This frees up personal debt and balances out personal debt to income ratio. This will always report only the business credit.
Financing a Vape Business Expansion
If you currently have a vape shop or an existing vape space business that has been open for a minimum of four (4) months, , Ventury can help you open another shop, develop your own product or e-liquid line or expand into new markets. They base their loan on two key factors: cash flow and common sense.
As long as your shop or business has a good revenue stream, Ventury will extend financing — even if your personal credit isn’t stellar.
Here is an overview of the guidelines for expansion capital:
- Your business must show at least four (4) months of business bank account deposits in excess of $10,000 for all four months.
- Cash flow in the business account is key for approval, regardless of time in business.
- Short term lending guidelines are based on deposits
- You can usually borrow 50-100% of average monthly revenue. (Credit scores are not as critical with this product)
“When you partner with Ventury Capital, you gain access to
the largest group of lending options available in the market today.”
For more information, get in touch with us today ([email protected]) and we’ll make a personal introduction to Ventury Capital.