POSaBIT Announces ‘Cash Advance’ Loan Program for the Cannabis Industry


SEATTLE – (COMMERCIAL THREAD) – POSaBIT Systems Corporation (CSE: PBIT, OTC: POSAF), the leading provider of payment infrastructure in 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 excited to unveil Cash Advance, which we see as a tremendous opportunity for one of our current partners to quickly access funds – and make their subsequent loan repayments – with relative ease,” said Ryan Hamlin, Founder / CEO of POSaBIT. “We know that cannabis retailers often need increased liquidity, whether it’s to buy desirable products in bulk, to innovate in renovations, to expand their operations or for anything else. POSaBIT Cash Advance provides these retailers with both cash access and a painless repayment program. We see it as a huge all-round victory.

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 offers unique and innovative blockchain-based payment processing and point-of-sale systems for businesses using only cash. POSaBIT specializes in problem solving for complex, high-risk emerging industries like cannabis with a compliant, user-friendly all-in-one solution using high-end 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.


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