- The California Department of Cannabis Control (“DCC”) has reserved $20 million in funding for research prioritizing cannabis projects, including potency, health impact, medicinal use, legacy cannabis genetics, and industry health
- The medicinal and recreational cannabis market size in the US is anticipated to reach $33 billion in 2022, with a revenue outlook of $52.6 billion by 2026
- REZYFi Inc., through two wholly-owned subsidiaries, is positioned to be the first cannabis mortgage banker in the United States
The state of California Department of Cannabis Control has reserved $20 million in funding for research that prioritizes numerous cannabis topics, including potency, health impacts, medicinal use, legacy cannabis genetics, and the industry’s health. The DCC requires that research funded under the program be available publicly at no cost. The grant proposals will be accepted from November 1 through November 30, with winning research projects awarded in February 2023. The DCC research grants are making it possible for expansion in the cannabis industry through individualized research on topics that make an impact (https://ibn.fm/eWbjB).
The medical and recreational cannabis market size in the United States is anticipated to reach $33 billion by the end of 2022, driven by the increase in the adult-use market. Retail sales are expected to reach $52.6 billion by 2026, according to the 2022 MJBiz Factbook (https://ibn.fm/TYDYL). The increase in the market can be attributed to consumer awareness and the legalization growing in states across the country – with four more states adding it to ballots for voters in November.
There is an unmet need for cannabis companies looking for traditional banking opportunities. However, one company, REZYFi, is uniquely positioned as the first cannabis mortgage banker in the United States. REZYFi is a growth mortgage origination and specialized financing company servicing the needs of both traditional and non-traditional consumers and businesses – targeting licensed and permitted cannabis companies, owners of real estate who lease to cannabis companies, and companies and individual homeowners seeking a variety of real estate-related first and additional mortgage-based financing and project-specific financings, such as solar installations and real estate development projects.
REZYFi operates through two wholly-owned subsidiaries – REZYFi Lending and ResMac, Inc. REZYFi Lending leverages a wide network to offer options such as 15- to 30-year fixed-rate loans, FHA loans, VA loans, reverse mortgages, jumbo loans, and adjustable-rate mortgages. The company expects increased funding in marketing and loan agents to drive significant origination growth over the next two years, further supported by the company’s launch of a high-margin cannabis division.
ResMac has been in operation for 13 years, having closed more than 20,000 loans for more than 15,000 clients. Through ResMac, REZYFi operates as a direct lender and originator of residential mortgages, with active mortgage correspondent and mortgage operations. Through its correspondent segment, ResMac primarily purchases and aggregates residential mortgages from trusted third-party originators.
The company is leveraging its corporate strengths to enhance the current unmet needs of the market. REZYFi is using its experience, network of independent brokers, and proprietary technology to further advance its presence as one of the first cannabis mortgage bankers working on expanding licensing into all states. Through its unique offering, REZYFi is leading the industry with a diversified approach to the real estate lending sector, positioning itself to capitalize on growth in multiple verticals in years to come.
For more information, visit the company’s website at www.REZYFi.com.
NOTE TO INVESTORS: The latest news and updates relating to REZYFi are available in the company’s newsroom at https://ibn.fm/REZY
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