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  1. #1

    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.

  2. #2
    Senior Member Reputation points: 66298 Olderguy's Avatar
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    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

    1012 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.

  3. #3
    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/

  4. #4
    Senior Member Reputation points: 1018
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    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

  5. #5
    Senior Member Reputation points: 66298 Olderguy's Avatar
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    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

    1012 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.

  6. #6
    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 Group
    Last edited by spartancapital0722; 03-10-2022 at 12:25 PM.

  7. #7
    Senior Member Reputation points: 5036 DiamondBL's Avatar
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    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

  8. #8
    Senior Member Reputation points: 337045
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    Quote Originally Posted by Tom Kent View Post
    We can fund. info@morganbrookshirellc.com 212-470-6806


    Tom Kent
    Morgan Brookshire LLC
    Hi Tom,

    You spammed this thread yesterday. The original thread is a month old. That cannabis has already been grown and smoked.....

    Admins,


    Can you please do something about the daily join DF and SPAM every thread non-sense.
    Hedley Lamarr......That's Hedley

  9. #9
    Senior Member Reputation points: 203054
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    Quote Originally Posted by Hedley Lamarr View Post
    Hi Tom,

    You spammed this thread yesterday. The original thread is a month old. That cannabis has already been grown and smoked.....

    Admins,


    Can you please do something about the daily join DF and SPAM every thread non-sense.

    lmfao @ "grown and smoked"

  10. #10
    Member Reputation points: 12
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    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.

  11. #11
    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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