springbig’s SpringFORWARD financing program fuels growth opportunities for cannabis brands and retailers
BOCA RATON, Fla., May 18, 2021 /PRNewswire/ — springbig, a leading provider in cannabis loyalty marketing and communications technology, today announced its partnership with Lendica, the leading cannabis credit platform, to increase access to capital for growing brands and dispensaries. The partnership will greatly benefit up-and-coming brands and retailers aiming to scale their operations in the capital-intensive cannabis industry.
springbig’s partnership is part of the company’s latest SpringFORWARD program, which offers financing services in addition to the platform’s award-winning loyalty and marketing features. As one of the largest enterprise SaaS technology companies in the cannabis industry, springbig recognized the impressive growth potential among cannabis-related businesses of all sizes and the urgency of providing accessible capital to help them stay competitive. This partnership with Lendica will also create a more accessible industry, especially for social equity businesses, by offering them capital at a reduced cost.
“Access to capital is still a pervasive issue in the cannabis, hemp and CBD community,” says Jared Shulman, CEO of Lendica. “If you are a small and medium sized operator located outside of a major city, you still likely struggle to tap traditional lending options. Yet, as we have witnessed firsthand, these small and medium sized businesses are great performers. We are more than delighted to partner with springbig and work with their network of successful small businesses to build a robust legal industry.”
We see how brands and dispensaries across the country invest in our loyalty, messaging, referral programs with stellar returns.
Jeffrey Harris, CEO of springbig
The partnership with Lendica aims to help our customers expand their marketing budget, reinvest more into their marketing automation and comfortably buy more inventory. This takes some extra capital, which we are proud to now offer through Lendica.
springbig customers are invited to learn more about SpringFORWARD by visiting the program website. Companies interested in learning more about springbig’s services can request a demo and get started today.
springbig is the leading provider in customer-loyalty and communications solutions for dispensaries and cannabis retailers. Founded in 2017, springbig offers state of the art CRM programs that capture key customer data and seamlessly integrates with existing dispensary POS systems. The platform also develops custom cannabis loyalty software embedded with advanced marketing tools to retain customers and sends targeted and personalized SMS campaigns based on customer interest with a 99% open rate. springbig is helping dispensaries & cannabis retailers keep their clientele connected and engaged while allowing the store owners to track their inevitable success and ROI in real-time.
Lendica is the leading provider of instant access to credit through its automated underwriting platform. Lendica is proud to serve all high risk industries including cannabis, hemp and CBD. The company’s integrated lending solution allows technology vendors supporting high-risk industries to instantly offer a differentiated, high-demand product. Lendica is proud to offer a compliant, fair and seamless lending experience.