California’s leading cannabis lender to coordinate financing with leading identity solutions company to provide operators with compliant lending solutions
SAN DIEGO, April 03, 2024 (GLOBE NEWSWIRE) — FundCanna, the leading provider of capital to small to medium-sized businesses throughout the cannabis sector, announced today a partnership with StandardC, which named FundCanna as its preferred lending partner. StandardC, the leader in business identity solutions, works with a network of banking and financial service providers to transform risk and compliance for cannabis banking, business banking, insurance, lending, payroll and more. In the capital-intensive sector, the partnership between StandardC and FundCanna empowers cannabis businesses by providing greater access to loans and lines of credit and a trustworthy and compliant avenue for lending.
“Working capital continues to be a hurdle for companies in the cannabis industry. We’re excited to collaborate with StandardC to provide its customers with the capital they need to succeed,” said Adam Stettner, founder and CEO of FundCanna. “As a leader among capital providers working with cannabis businesses, FundCanna is proud to offer its expertise and tailored funding solutions to help provide cannabis companies with the same important capital solutions available to traditional businesses.”
Traditionally, securing financing has been a significant challenge for cannabis businesses due to federal regulations. With 20 years and $20 billion of on-balance sheet lending experience, FundCanna is committed to broadening lending access to customers across the nation by providing cannabis operators with access to banking and lending services that have historically been unattainable, either because of legal red tape or cost-prohibitive measures. StandardC aims to streamline identity and compliance systems to empower financial institutions to deliver key customer service within complex regulatory systems, such as the cannabis industry.
Robert Mann, CEO of StandardC noted, “We’re excited to partner with FundCanna to empower financial institutions and their cannabis business customers with access to needed working capital. Our combined expertise provides the tools needed to navigate the complexities of cannabis finance and bridge the gap between business owners, bankers and lenders like FundCanna.”
FundCanna’s partnership with StandardC will provide benefits for both the cannabis industry and the financial institutions that serve them. This includes a simplified application process and increased access to capital for growth for cannabis businesses, as well as enhanced risk assessment tools and streamlined compliance procedures to confidently serve the cannabis market for financial institutions.
This innovative partnership streamlines the loan application process by integrating StandardC’s industry-leading business identity technology with FundCanna’s expertise in cannabis finance. With FundCanna as a partner, StandardC customers can expect industry-leading innovation and flexibility to service their funding needs.
About StandardC
StandardC is the financial services industry’s leading provider of fully integrated business identity and compliance management systems. Its comprehensive platform streamlines customer onboarding, KYC/AML compliance, relationship management, and more, empowering financial institutions to deliver exceptional customer experiences while meeting complex regulatory requirements.
About FundCanna
FundCanna is the leading source of debt capital for the cannabis industry. The funding products FundCanna offers are customizable, flexible, renewable and reliable. The financing offered is designed exclusively for cannabis operations and the ancillary companies that support the industry.
For more than 20 years, their team of financial experts has provided $20 billion in funding to underserved businesses and individuals across the country. Adam Stettner, founder and CEO, has successfully founded and operated finance companies for the past 20-plus years, earning numerous national awards and recognition including EY’s Entrepreneur of the Year and seven showings on the Inc. 500/5000.
Stettner and his team have focused exclusively on financing licensed cannabis operators and ancillary providers since 2021. For more information about cannabis financing, visit FundCanna.com.
Media Contacts:
Patrick Maddox
KCSA Strategic Communications
fundcanna@kcsa.com
StandardC Media Relations
info@standardc.io