Daily News: March 10, 2014

MediSwipe Initiates $500K Facility to CO Marijuana Companies

MediSwipe announced the initiation of up to a $500,000 credit facility to fund a broad range of cost-effective and flexible equipment leasing, real estate lease purchase agreements and financing programs for licensed retail, recreational and grow operations within the state of Colorado.

The innovative financing concept will quickly allow qualified licensed individuals and existing operations to participate in a revolving credit line to purchase heavy agricultural equipment including lighting, CO2 and hydrocarbon extractors, real estate property and acreage zoned for the regulated cannabis industry. The flexible and easy access business loans will eliminate much of the red tape of traditional bank financing. The company is presently in negotiation with its’ first two properties within the state of Colorado.

“Even with the recent announcement of easing on existing traditional banking rules for these type of businesses, the hurdles in obtaining a traditional business loan for expansion, purchase of new properties, or purchasing costly industrial equipment is an in depth and lengthy process,” stated B. Michael Friedman, CEO of MediSwipe. “We intend to streamline the lending process and have committed up to $500,000 for this program to provide easy access to capital for canna-businesses with minimal down payments and terms amortized up to 60 months to fund hydroponic, agricultural and extraction equipment. The funds will additionally be used to guarantee leases of legally zoned warehouse space, retail locations, acreage and manufacturing operations in which MediSwipe will in turn sublease to licensed operators and cultivation professionals. MediSwipe expects to receive rents, management and consulting fees along with monthly payments from equipment lease buyout agreements at reasonable interest rates. Based on the success of the program, we have considerable funding available to us through our investment banking and institutional partners to ensure the national roll out of this program in all legal jurisdictions.”

MediSwipe provides patient solutions and is the leader in Compassionate Care Technology for the medicinal marijuana industry. MediSwipe provides terminal-based service packages and integrated web portal add-ons for physicians, clinics, hospitals and medical dispensaries that include: digital patient records, electronic referrals, credit/debit card merchant services, and health and wellness product lines including beverages, vaporizers and accessories. MediSwipe does not directly grow, harvest or distribute or sell cannabis or any substances that violate U.S. law or the Controlled Substances Act, nor does it intend to do so in the future.