2019-2022 Projections for the Hemp Industry
Global excitement about the cannabis industry has business booming in every sector. There is an ever-increasing demand for products made from hemp seeds and stalks. Resultantly, funding sources for hemp business loans are financing more ventures than ever.The Motley Fool reports these key projections for the global industrial hemp industry:
- Global retail sales of hemp totaled $3.7 billion in 2018
- Global retail sales of hemp are expected to top $5.7 billion by 2020
- US retail sales of hemp in 2018 was $1 billion
- US hemp retail sales are expected to top $2.6 billion by 2022
With numbers like those, it’s easy to understand why so many people are trying to get hemp business loans. Companies that finance hemp businesses typically want to lend at least $1 million for raw land deals, and a minimum of $200,000 for equipment deals. Since the US Farm Bill passed in December 2018, there are a lot of new farmers interested in capitalizing in this lucrative business realm.
There’s no doubt that there are huge profits to be earned by companies that position themselves well in the budding industrial hemp industry. At the very least, it takes an excellent credit score and a polished business plan to get a hemp business loan or any other type of weed loan. Competition for this type of funding is getting tougher every day, and cannabis lenders are becoming more selective about the applicants they cater to.
The professional finance experts at Startup Cannabis Loans.co Loans have extensive experience in finding the most attractive hemp business loans for well-qualified applicants. Whether you need capital for a real estate investment to grow industrial hemp, for construction of a CBD extraction facility, for processing hemp stalks and manufacturing products from its strong fibers, or for any other hemp-based business, we have the resources and connections you need to get financed. Fill out this form now
and we will contact you today!References MarketWatch - Industrial Hemp Market Expected to Grow at a Healthy CAGR of 18.3% in Terms of Value Over the Forecast Period 2018-2027- Persistence Market ResearchThe Motley Fool - U.S. Hemp Revenue to Grow 27% Annually, Hit $2.6 Billion by 2022