Financing Options in New Hampshire’s Cannabis Market
A Guide to Securing Loans and Navigating Regulatory Challenges
Summary
New Hampshire’s cannabis market in 2025 is defined by a thriving medical program and an ongoing ban on recreational use, despite strong public support for legalization. Entrepreneurs face significant hurdles, including high startup costs, strict regulations, and federal banking restrictions that limit access to traditional financing.
Alternative lenders like BitX Capital offer specialized, higher-interest loans to help businesses launch and expand within the tightly regulated medical market. The landscape remains challenging but presents stable opportunities for those able to secure appropriate funding.
Table of contents
- A Guide to Securing Loans and Navigating Regulatory Challenges
- New Hampshire’s Cannabis Loans: Opportunities and Barriers
- New Hampshire’s Medical Cannabis Loan Landscape
- Understanding the Challenges of Cannabis Financing
- BitX Capital’s Tailored Financing Solutions
- Steps to Secure Your Cannabis Loan s
- Overcoming New Hampshire’s Unique Challenges
- Recent Legislative Developments Shaping 2025
- Why Choose BitX Capital?
- FAQ: Financing Options in New Hampshire’s Cannabis Loans
“At BitX Capital, we understand the unique challenges facing cannabis entrepreneurs in New Hampshire. Whether you’re launching a startup, securing equipment, seeking working capital, or investing in real estate, we’re committed to being your one-stop shop for cannabis financing. Our team works every day to provide the flexible funding solutions you need to grow and succeed in this dynamic market.”
— Todd Rowe, President, BitX Capital
New Hampshire’s Cannabis Loans: Opportunities and Barriers
New Hampshire’s cannabis loans present a story of two distinct realities. On one hand, the medical marijuana program thrives, serving over 15,000 patients through seven licensed Alternative Treatment Centers (ATCs).
On the other hand, the state continues to ban recreational cannabis, even though 65% of residents supported legalization in 2024 polls. Since the passage of House Bill 573 in 2013, the Therapeutic Cannabis Program (TCP) has steadily grown, generating consistent demand for medical cannabis.
However, entrepreneurs must navigate high startup costs, strict regulations, and ongoing federal banking restrictions. Consequently, securing financing is a significant challenge. In this guide, you will find an overview of the market and discover the types of loans that can help you succeed.
New Hampshire’s Medical Cannabis Loan Landscape
The state’s medical cannabis program, established under RSA 126-X, operates under tight regulations enforced by the Department of Health and Human Services (DHHS).
Patients with qualifying conditions such as chronic pain, PTSD, or cancer may possess up to two ounces of cannabis every ten days, purchasing exclusively from ATCs like GraniteLeaf Cannabis in Peterborough or Temescal Wellness in Dover.
Notably, the program expanded in 2024 with HB 1278, which now allows any debilitating condition to qualify. Additionally, SB 357 permits any licensed healthcare provider to certify patients. Out-of-state patients carrying valid medical cards can also buy from ATCs, further boosting demand.
Nevertheless, home cultivation remains illegal, while recreational use incurs fines of $100 for up to ¾ ounce and misdemeanor charges for larger amounts.
While the market continues to grow, it remains constrained. Only three corporations—GraniteLeaf, Sanctuary ATC, and Temescal Wellness—operate the seven dispensaries statewide. Medical sales are tax-free, but high compliance costs, such as mandatory contaminant testing, strain business budgets.
Federal restrictions under the Controlled Substances Act block access to traditional loans, and the 2024 “open container” law (SB 426) adds $150 fines for improper cannabis transport. Even though legalization efforts like HB 1633 failed in 2024, the medical market still provides a stable foundation for entrepreneurs who secure the right financing.
Understanding the Challenges of Cannabis Financing
Starting a medical cannabis business in New Hampshire demands significant investment. Licensing fees range from $20,000 to $80,000 per year, and building a cultivation facility can cost anywhere from $500,000 to $2 million.
Since cannabis remains federally illegal, banks hesitate to get involved, fearing penalties under anti-money laundering laws. While the SAFER Banking Act could eventually provide relief, it remains pending in 2025.
In the meantime, alternative lenders like BitX Capital step in to fill the gap. These lenders offer loans with higher interest rates—typically 10-20%—due to increased risk, but they possess a deeper understanding of the cannabis industry than traditional banks, which generally require 80% loan-to-value ratios for commercial loans.
BitX Capital’s Tailored Financing Solutions
BitX Capital offers four loan types to help you navigate the medical cannabis market in New Hampshire. Each option targets specific business needs, from launching dispensaries to scaling operations.
Startup Cannabis Loans: Launch Your Medical Cannabis Business
Opening an ATC requires substantial capital. Application fees, compliance procedures, and facility setup can quickly exceed $250,000. BitX Capital’s startup loans cover these costs, provided you have a robust business plan and a credit score of at least 700.
These loans are ideal for meeting the DHHS’s rigorous licensing requirements, including security and operational plans. For instance, a new dispensary in Concord can use startup funds to secure a lease and comply with TCP’s seed-to-sale tracking system.
Because there are only seven ATCs statewide, expansion opportunities exist, especially in underserved regions like Merrimack County.
Real Estate Cannabis Loans: Secure Compliant Properties
Commercial real estate in New Hampshire comes with a high price tag—Manchester averages $150-$300 per square foot.
ATCs must adhere to zoning rules, such as maintaining a 1,000-foot distance from schools and installing advanced security systems. BitX Capital’s real estate loans offer up to 60% loan-to-value ratios, designed for cannabis properties with lower resale values due to federal limitations.
These loans help you purchase or lease facilities, like a cultivation site in Peterborough, where GraniteLeaf operates. Structured payments align with your revenue, making it easier to manage high upfront costs.
Cannabis Equipment Financing: Invest in Quality and Compliance
Operating a medical cannabis facility demands specialized equipment—grow lights, HVAC systems, and testing machines—to meet TCP’s strict requirements for mold, pesticides, and potency.
Dispensaries also require secure point-of-sale systems and vaults. BitX Capital’s equipment financing covers 100% of these expenses, offering rapid approvals and minimal paperwork.
For example, a Keene dispensary can finance a $50,000 extraction system to produce popular concentrates. This approach preserves your cash flow and enables you to focus on compliance and product quality without excessive financial strain.
Cannabis Working Capital Loans: Maintain Flexibility
Although the medical cannabis market is stable, unexpected expenses—inventory costs, marketing, or compliance upgrades—can arise. BitX Capital’s working capital loans provide quick funding based on 10-20% of your monthly revenue.
For instance, a Chichester ATC can use these funds to stock edibles or launch a targeted digital marketing campaign centered on “New Hampshire medical cannabis” searches.
These loans help you respond to market shifts, such as the addition of generalized anxiety disorder to qualifying conditions, which increased patient registrations.
Steps to Secure Your Cannabis Loans
Although securing a cannabis loan may seem intimidating, you can manage the process effectively by following these steps:
- Build a Solid Business Plan: Demonstrate your knowledge of New Hampshire’s market, emphasizing the 15,000+ patient base and tax-free sales. Include financial projections and a compliance strategy.
- Gather Documents: Assemble tax returns, bank statements, and credit reports. While a credit score of 670+ is ideal, BitX Capital considers applicants with lower scores. Provide your DHHS application if you are seeking a license.
- Choose a Cannabis-Friendly Lender: BitX Capital specializes in cannabis lending, unlike banks that typically reject ATC applications. Compare terms with lenders like FundCanna to find the best fit.
- Leverage State Resources: Consult the TCP website for application guidance. Explore available grants for compliance costs, although these are more limited than in states like Massachusetts.
- Stay Transparent: Clearly state your cannabis business focus. BitX Capital values honesty and adjusts loans to your specific needs, even with federal restrictions.
Overcoming New Hampshire’s Unique Challenges
New Hampshire’s medical cannabis market faces special hurdles. Due to home cultivation bans, supply options remain limited, forcing reliance on ATCs.
The state’s three main operators struggle with capacity, serving only 15,000 patients despite rising demand. Compliance costs, such as $10,000 for security upgrades, quickly add up. Meanwhile, illicit markets in neighboring states like Maine lure patients away, undermining legal sales.
Fortunately, appropriate financing helps you overcome these challenges by funding compliant facilities, equipment, and patient-focused marketing strategies.
Recent Legislative Developments Shaping 2025
In 2024, the New Hampshire legislature made several reform attempts but fell short. HB 1633, aimed at legalizing recreational cannabis, passed the House but was tabled in June 2024 following Senate amendments.
HB 53, which would have allowed home cultivation for medical patients, also failed. Governor Kelly Ayotte’s opposition to legalization in 2025 keeps the focus on medical cannabis.
Nevertheless, HB 198, passed in March 2025, decriminalized possession of up to two ounces for adults 21 and older, reducing risks for patients. These changes highlight the importance of financing to grow medical cannabis operations while recreational legalization remains stalled.
Why Choose BitX Capital?
BitX Capital stands out as a reliable partner in New Hampshire’s medical cannabis market. Having funded over 500 loans and $50 million, BitX Capital understands the industry’s intricacies.
Their startup loans help launch new ATCs, real estate loans secure compliant properties, equipment financing ensures top-quality products, and working capital loans keep your business flexible. Unlike traditional banks, BitX Capital navigates federal restrictions with competitive rates and speedy approvals.
As a result, you can confidently build and expand your cannabis enterprise in New Hampshire’s unique market. Call now and speak with a loan specialist at 203-763-1430 ext. 101
FAQ: Financing Options in New Hampshire’s Cannabis Loans
Startup funding for cannabis businesses is primarily sourced from alternative lenders, private equity firms, and individual investors. Since cannabis remains federally illegal, most large, federally chartered banks won’t provide loans or banking services to cannabis-related businesses. This forces entrepreneurs to seek out private financing or state-chartered credit unions that are willing to work within the legal framework.
Equipment financing allows you to acquire essential machinery without a large upfront capital investment. Because of the federal restrictions, cannabis equipment financing is typically offered by specialized leasing companies or alternative lenders who understand the industry’s unique risks.
These financing options can cover a wide range of needs, from cultivation and processing equipment like grow lights and HVAC systems to retail necessities like point-of-sale systems and security hardware.
Working capital is crucial for covering daily operational expenses like payroll, inventory, and marketing. While traditional lines of credit from major banks are off the table, cannabis-specific lenders offer solutions such as revenue-based financing, merchant cash advances, and non-dilutive working capital loans.
These options provide the necessary cash flow to manage day-to-day operations and bridge the gap between expenses and revenue.
🏠Acquiring compliant property for a dispensary, cultivation, or manufacturing facility is a major hurdle. Cannabis real estate financing is available through private lenders and specialized financial institutions that provide loans for both owner-occupied properties and investment properties.
These loans are often secured by the real estate itself, offering a viable path for businesses to purchase or refinance their facilities, which are essential assets in the cannabis industry.
