Wyld Equity Loan fund
"We have a mission that far exceeds just checking the capitalistic boxes."
Aaron Morris, Wyld Founder & CEO
Capital on a Mission
Wyld, a multi-state cannabis company, has partnered with NuProject, a mission-based lender, to launch the Equity Loan Fund in recognition that achieving equity in cannabis ownership - and in business ownership at large - requires equitable funding for startups. Wyld contributes funding and mentorship and NuProject manages the loan client relationship from application to final payment, including loan readiness technical assistance.
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Loan Details
- Loans are available ranging from $25,000 to $100,000 with 12% interest for all loans.
- Loan payment terms vary and are based on the businesses’ projected cashflow. In other words, loan terms are based on what the business can afford to repay. In general, loan terms are 48 months or longer and can include a period of principal-only payments and other flexible payment scenarios.
- There are three major steps in the loan application process, 1) Completing the pre-application, 2) Meeting with NuProject, 3) Completing the application, which primarily consists of providing financial documents via a secure file platform. See below for required financial documents.
We encourage you to complete the pre-application early as the sooner we establish a relationship the sooner we can support your business on a path to funding for growth.
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Qualifications
Apply for this loan if your business is:
- U.S. state-licensed cannabis business with green-light from governing municipality to operate – preference for businesses already generating sales.
- 51% owned by racial or ethnic minority owners.
- Able to show how the business will use loan funds to increase revenue within 6 months of funding.
- What we don’t check is your credit history or require a cash match or down payment.
- The following financial documents are required as part of completing the application: most recent balance sheet, profit & loss statement for prior 12 months, most recent filed tax returns (prior 2 years returns for operational businesses), and 2 years of projected financials for
business after funding.
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How to apply
Step 1: Interested applicants first complete a shorter pre-qualification app. Our lending team will select 3-4 clients to proceed
Step 2: If advanced to step 2, you’ll complete a full application and submit financial documents (balance sheet, P&L, cashflow projections). We’ll meet you over several meetings dive into market assumptions, use of funds, and businesses’ prior financial history as part of underwriting.
Step 3: After completing underwriting, each loans specific terms are set and Wyld’s Funding committee approves funding. This process generally takes 60-90 days.
Complete the pre-qualification ASAP! The sooner we meet your business, the better your chances of funding. We look forward to meeting you.
Need help completing a 2025 Profit & Loss statement? Have questions about the loan? Meet with us.
Want to ask a quick question? Email loans@nuproject.org
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