Greencure

Cannabis Lender Looking For Seasoned Operators or Property Owners

March 31, 2020

Cannabis Lender Looking For Seasoned Operators Is Still Lending

 

The markets may be on a bit of a rollercoaster at the moment but if you're a cannabis operation that needs a loan and you've been operating for a minimum of 6 months then we have a lender for you!This lender is looking at obtaining a select handful of fast-turnaround / "low-issue" loan requests for their cannabis lending program.They're defining these loan requests as:

  1. Refinancing of a landlord-tenant property or owner-user property with at least 6 months of operating history at the site for the licensed cannabis operator

  2. Purchase finance of a sale/leaseback transaction where the seller will be the tenant and has occupied and operated a licensed cannabis business at the property for 6 months

  3. Purchase financing for an existing licensed cannabis tenant who is exercising an existing purchase option or wants to negotiate a purchase

  • Deal Size:

    • $2M - $15M

  • Up to 70% LTV

    • Based on Non-Cannabis value

  • Rate: 9-14%

    • With a 5,4,3,2,1% style prepayment

    • 1-4pts origination fees

  • Term: 5-7 Years

  • Recourse:

    • Non-Recourse with "bad-boy" carveouts

  • Property Type: 

    • All types with non-cannabis alternative use

  • Geography: Nationwide

    • Both recreational states & medical-only states

    • Tertiary markets accepted

If you have a deal that fits these criteria then send us an email and let’s start chatting today!

P.S. If you're brand new to the EN Capital newsletter; each week we promote a new capital source for a variety of commercial real estate properties. So if the above lender is not relative to you, the chances are high that we'll have the perfect capital source for you soon.P.P.S. If you have a commercial real estate deal, unrelated to the above, that needs capital right now reach out to us and let's chat!

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Nathan WhighamPresidentDirect: 310-465-9253[email protected]www.encapitalllc.comCA DRE Broker License: 01793655