POSaBIT Announces “Cash Advance,” Cannabis Industry Loan Program


SEATTLE–(BUSINESS WIRE)–POSaBIT Systems Corporation (CSE: PBIT, OTC: POSAF), the leading payment infrastructure provider to the cannabis industry, announced “Cash Advance,” a new loan factoring program for the industry cannabis. The Cash Advance platform will allow POSaBIT payment merchants to obtain a loan from the company quickly and hassle-free and then repay the loan through payment deductions from the company’s in-store processing.

“We are very pleased to unveil Cash Advance, which we see as a tremendous opportunity for any of our current partners to quickly access funds – and make their subsequent loan repayments – with relative ease,” said said Ryan Hamlin, Founder/CEO of POSaBIT. “We know that retailers in the cannabis industry often need increased cash, whether it’s to buy desirable products in bulk, innovate renovations, scale their operations, or anything else. POSaBIT Cash Advance offers these retailers both access to cash and a painless reimbursement program. We see it as a huge win across the board.

POSaBIT Cash Advance will go live in Q4 with select beta accounts, with full rollout expected in early 2022.


POSaBIT (CSE: PBIT) is a financial technology company that provides unique and innovative blockchain-enabled point-of-sale and payment processing systems for cash-only businesses. POSaBIT specializes in solving pain points for complex, high-risk emerging industries like cannabis with an all-in-one solution that is compliant, user-friendly, and uses premium hardware. POSaBIT’s unique solution provides a safe and transparent environment for merchants while creating a better overall consumer experience. For more information, visit www.posabit.com.


Martha J. Finley