Rules Regarding Cannabis Property Acquisitions
- According to Oregon Measure 91, which was approved in 2014, recreational cannabis is legal within the state. Cities and counties, however, can prohibit cannabis-related businesses from operating within their borders and can set zoning restrictions that limit the allowable locations for Oregon cannabis-based businesses. This can lead to some confusion about where cannabis can be legally sold, manufactured or grown. Contacting the local county or city authorities to request information about the acceptable areas in which your planned business can be established is the best way to determine whether a particular parcel of land is suited to your planned use.
- Initiative Measure No. 502 was passed in 2012 and established a regulatory framework for growing, processing and retailing cannabis products within the state of Washington. While municipal areas and counties can object to the issuance of licenses for cannabis businesses, the final decision on these licenses remains with the Washington State Liquor and Cannabis Board. In general, however, your cannabis-related business must be located at least 1,000 feet from playgrounds, childcare centers, elementary and secondary schools, libraries, public parks, recreation centers, gaming arcades, and public transit centers.
Federal Regulations Limit Access to Loans
The Value of Alternative Lending
Alternative lenders can provide CRE loans for cannabis industries. By choosing these financial institutions as the source for your funding for commercial real estate acquisitions, you can achieve the most flexible terms and the greatest possible access to funding for your cannabis-related business enterprises. This can help you to cash in on the profits possible in this fast-growing industry.
Working with opens in a new windowalternative lending companies is the best way to acquire funding for your cannabis-related business. These lending institutions can offer real help in obtaining CRE loans for a wide range of activities, including renovating current buildings and acquiring new properties. Your alternative lending company can act as a reliable partner in making sure you have the funds you need on terms your company can afford.