- Cannabis businesses continue to face challenges finding opportunities for financing despite the continued drive for legalization
- REZYFi is pivotal providing much-needed support to the cannabis industry through two wholly owned subsidiaries – REZYFi Lending and ResMac Inc.
- For 2023, combined cannabis industry sales are projected to reach $38.8 billion
In recent years, the cannabis industry has seen significant changes – with 39 states legalizing cannabis for medicinal use and 21 states allowing recreational use. For 2023, the combined sales are projected to reach $38.8 billion for the industry (https://ibn.fm/dqo2m). In spite of this significant growth, there is a challenge that cannabis businesses face – access to loans, deposits, and credit cards. Even with Congress’ repeated attempts to pass banking and tax reform for the cannabis industry, there has not been a legislative consensus or enough political will to get it done.
Positioned as one of the first cannabis mortgage bankers in the United States, REZYFi is servicing the needs of both traditional and non-traditional consumers and businesses. The company targets markets that include 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. Headquartered in Miami, Florida, REZYFi operates through two wholly owned subsidiaries – REZYFi Lending and ResMac Inc.
Through REZYFi Lending, the company leverages a wide network to offer options such as 15- and 30-year fixed-rate loans, FHA loans, VA loans, reverse mortgages, jumbo loans, and adjustable-rate mortgages. REZYFi expects increased funding in marketing and loan agents to drive significant origination growth over the next two years, supported by its planned launch of a high-margin cannabis division.
REZYFi’s second wholly-owned subsidiary, ResMac, has been operating for 13 years. It has closed more than 20,000 loans for more than 15,000 clients. The company expects to accumulate $285 million in retail origination in 2023, alongside $250 million in wholesale origination for the same period. ResMac is further targeting $600 million in origination through its mortgage correspondent operations for 2023.
REZYFi’s diversified approach to the real estate lending sector positions it to capitalize on growth in multiple verticals. The global overall loan servicing market size was valued at $680.8 million in 2021. By 2028, the market is expected to reach $1426.6 million, growing at a CAGR of 11%, growth driven by a rise in demand for offering increased financing for mortgage lenders (https://ibn.fm/VHIQg).
Over the past five years, REZYFi has developed an extensive network of independent mortgage-related brokers and licensed loan officers and believes that this network will be a vital asset moving forward. Using its corporate strengths, REZYFi plans to expand its offering to all states and is currently licensed in 36 states. REZYFi plans to use its seasoned management team, which includes extensive experience in the cannabis and hemp marketplace.
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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