Results 1 to 11 of 11
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01-04-2022, 02:53 PM #1
- Join Date
- Feb 2021
- Posts
- 21
Cannabis real estate loan..700k Needed Against 1.2 Million Collateral
Can anyone help me with this?
I have a client that owns a Class C Indoor Medical Cannabis growing facility in Chase Michigan.
Client owns a 16k sqft building that sits on 20 acres. Owned free and clear ( No Mortgage).
Business been in operation just over 12 months and is profitable.
Client needs a loan of 700k which would be used to add another 12k sqft to the building.
Building estimated value: 1.2 million. Fico: 700-800. Client would like to have a loan with min 3yr term.
Loan amount requested: 700k, Client is seeking a loan against the real estate ONLY.
Any help would be greatly appreciated:Last edited by Sundance; 01-05-2022 at 12:40 PM.
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01-04-2022, 06:28 PM #2
Cannabis Real Estate Loan Guidelines...
LTV/LTC Up to 65% LTV, not to exceed 75% LTC.
No greater than 50% on land!
Interest rates 9% to 15% interest only Loan Term 12 to 24 to 36 months; fixed term or renewable.
Also 15-year self-amortizing for stabilized properties
Origination fee 3% to 7% of loan amount depending on the transaction, payable at closing
Add broker fee of 3% which I split with broker and paid at closing
Application fee Fee of $5,000 is due with the accepted and signed Letter of Intent. ($10,000 for new construction)
Minimum loan amount $250,000
I need a 1003 (real estate loan application) PFS and credit report.Last edited by Olderguy; 01-04-2022 at 06:35 PM.
Steve Benjamin
Professional Business Loans
522 Contessa
Irvine, CA 92620
steveprobiz@gmail.com
https://probizloans.net/
Broker, Underwriter, general business loan expert
949.228.1050
@ 24 hour funding working capital loans
@ Term loans from 3 years to 10 years at 9.5% and up
@ Equipment financing up to 7 years
@ Property loans - Hard Money and traditional - Primary, Investment, commercial, land, fix and flip, construction.
@ SBA loans - 7A and 504.
@ Private money equity and debt for major investments
@ Personal Loans up to gross income from personal tax return.
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01-12-2022, 09:03 AM #3
- Join Date
- Mar 2020
- Posts
- 24
Call us today - 646-837-5522 or email funding@upwisecapital.com
Upwise Capital is one of the fastest-growing financing companies in the cannabis space regarding potential financing of any real estate transactions, construction/buildout projects, equipment purchases, or any other scenarios where debt or equity solutions could be useful for you. We also can facilitate fully compliant credit card processing and banking solutions.
We offer a myriad of options; feel free to check out the section of our website dedicated to cannabis financing to see what we have available: https://upwisecapital.com/cannabis-financing/
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01-18-2022, 11:05 AM #4
- Join Date
- Oct 2012
- Posts
- 142
If you are still looking for your cannabis real estate loan,just contact me.
Howie Dane
Funding Sources for Business
president@fundingsourcesforbusiness.com
(847) 831-4118
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01-18-2022, 12:58 PM #5
I have a couple of lenders that do cannabis R/E but he said he already had someone looking at it. I talked to him last week.
Steve Benjamin
Professional Business Loans
522 Contessa
Irvine, CA 92620
steveprobiz@gmail.com
https://probizloans.net/
Broker, Underwriter, general business loan expert
949.228.1050
@ 24 hour funding working capital loans
@ Term loans from 3 years to 10 years at 9.5% and up
@ Equipment financing up to 7 years
@ Property loans - Hard Money and traditional - Primary, Investment, commercial, land, fix and flip, construction.
@ SBA loans - 7A and 504.
@ Private money equity and debt for major investments
@ Personal Loans up to gross income from personal tax return.
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02-08-2022, 04:59 PM #6
- Join Date
- Feb 2022
- Location
- New Jersey
- Posts
- 8
Spartan Capital is a funder and always looking to expand our footprint. I'd welcome the opportunity to speak
with you and determine if there are synergies between our companies. Perhaps, we can help you expand your product line- we offer white label lending. This would be a loan on receivables that could be used to compliment and increase their borrowing power.
Deal amounts: $10K- $1MIL
Buy Rates: starting at 1.25
Positions: 1st, 2nd, 3rd and 4th
Term: Up to 10 months
Commission: Up to 12 points
Turn Around time- Underwriting decisions within hours of all necessary items
Even if the deal is not in our sweet spot, we think we can usually work it out.
Daily/Weekly Payments
Early payoff discounts
Renewals 45% paid in
I'd welcome the chance to learn how we might be able to help each other grow our businesses!
Spartan Capital GroupLast edited by spartancapital0722; 03-10-2022 at 12:25 PM.
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02-08-2022, 07:16 PM #7
Lender420.com has some good options for the greenspace
Jonathan Kohanoff
B.R.E. #01962090
Diamond Business Loans
Beverly Hills, CA 90211
jon@diamondbl.com
www.DiamondBL.com
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02-09-2022, 12:50 PM #8
- Join Date
- Mar 2015
- Location
- Boynton Beach
- Posts
- 3,493
Kevin Henry
VP-Business Development
Seacoast Business Funding, a division of Seacoast Bank
561-850-9346
Kevin.Henry@SeacoastBF.com
1880 N Congress Ave., Suite 404
Boynton Beach, FL 33426
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02-10-2022, 07:52 PM #9
- Join Date
- Jan 2014
- Posts
- 1,378
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03-22-2022, 04:55 PM #10
- Join Date
- Mar 2022
- Location
- San Diego
- Posts
- 21
I'm sure that I'm late to the party here but if you have yet to find a solution, FundCanna has some interesting products that can compliment this transaction. Additionally, I have a network of lenders that specialize in Cannabis real estate. Happy to assist if needed.
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07-22-2022, 12:26 AM #11
- Join Date
- Jul 2022
- Posts
- 14
Just wandering this forum, I know it's late for this particular deal. I do term loans through BOA and Merrill. 10% bank fee, ISO commission 30% of bank fee, zero fees. Let me know if interested.
Slate Advance | Isaac Wise | isaac@slateadvance.com |
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