- Loan Amount * $1,500,000.00
- Rate * 11.89%
- Appraised Value * $2,750,000
- Term * 10 years, IO then Amortizing
- Lien Position * First
Our Borrower was expanding its cultivation, manufacturing, and retail cannabis business. We were able to make a loan to the Borrower wherein the first 12 months were interest only and then the loan would fully amortize over the remaining 9 years. This kept the payments minimal during expansion and higher once the increased cash flow begins.