One of the most challenging aspects of starting a cannabis business is funding. The vast majority of banks won’t offer loans to operators because the plant remains a Schedule I substance. Institutions that finance cannabis companies often charge high interest rates or require collateral that many small operators lack. Meanwhile, private and family-office investment in cannabis has largely dried up.
This puts newer cannabis markets at a disadvantage. Winning a license is often the easy part, but securing enough capital to start operations can be out of reach.
Attorney Calandra Revering and Bloom editor-in-chief Angelique Zerillo aim to ease that burden for new Minnesota canna-businesses. They created the Flourish Investment Forum along with event planner Vivian J to connect cannabis founders with people who can actually help their visions come to life.
“The Flourish Investment Forum was born out of a simple but urgent truth: that access to capital and compliance has never been equitable, and the cannabis industry is no exception,” Revering explained.
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The two-day event, May 12-13 at the Minneapolis Event Centers, will feature educational panels and networking to build connections and set founders up for success. Organizers curated the agenda and guest list to ensure operators have access to trusted resources.
“We hope every person who leaves the Flourish Investor Forum leaves with something tangible: a connection, education, a strategy, a deal in motion, or simply the confidence that their vision is fundable,” Revering said.
Many people who get into the cannabis space are unaware of the myriad costs associated with operation. They may not know where to turn for help when it’s time for compliance checks or even opening a bank account.
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The Flourish Investor Forum covers all of the above and more with its jam-packed schedule. Day one is titled “Build the Foundation,” while Day two encourages attendees to “Make the Moves.” Panel topics include how to build a cultivation facility on a budget, what you need to apply for funding, and how to navigate social media marketing restrictions.
Both days include networking breakfasts and lunches meant to solidify partnerships. Day two will end on a high note with a Yacht Rock-themed dinner at nearby venue The Glass House.
Attendees should plan to be active participants in all aspects of the agenda to ensure they get the most from the event.
“This is not a conference where you sit and listen: our goal is for you to flourish in the cannabis industry,” Revering concluded.
