Equipment Finance News

Cannabis equipment supplier launches into leasing

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Xtraction Services (XS), a leader in equipment solutions for cannabis and hemp extraction, has announced the launch of an equipment leasing program for its customers, with oil processor Halo Labs one of the first to sign up.

Kiran Sidhu, CEO of Halo Labs, said: “The new leasing options allowed us to accelerate our expansion into multiple new markets including California and Nevada.

Not having to come out-of-pocket for every new expansion location affords us a competitive advantage and allows us to pass those savings to our customers.”

XS says its leasing program combines an easy to understand financing solution with a specialist service offering. Clients have dedicated account mangers that deploy on-site support and testing to ensure efficiency and equipment uptime. Preventative maintenance and 24-7 monitoring support further safeguard up-time and product consistency.

“We understood that a lot of brands didn’t have access to credit facilities that would provide them state-of-the-art equipment. Cannabis and Hemp extracted products are the fastest growing sectors in the space and it is becoming very competitive. Using inefficient equipment that is not designed for cannabis or hemp creates a lot of waste and can be the difference between failure and success,” explained John Konop, Underwriting Director at XS. “By providing financing options, it provides manufacturers the immediate opportunity to use our industry leading equipment. It’s a win-win for manufacturers and consumers.”