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06-01-2022, 12:29 PM #1
- Join Date
- May 2022
- Posts
- 1
Rural Cannabis-Use Real Estate
Hello,
Does anyone here provide acquisition loans for rural cannabis-use real estate (i.e. cultivation operations)?
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06-01-2022, 01:32 PM #2
Can you do it as just a land loan and not specify cannabis? And justify the usage? Land loans are usually 50% LTV.
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
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@ Property loans - Hard Money and traditional - Primary, Investment, commercial, land, fix and flip, construction.
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@ Private money equity and debt for major investments
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06-01-2022, 01:39 PM #3
- Join Date
- Jan 2022
- Posts
- 42
Depending on the type of cultivation, I had a transaction where they were growing cannabis for CBD oil related use. They could also cultivate cannabis for other hemp related uses.
i would strongly recommend not encouraging them to misrepresent the intended use of the property since that would be fraud and your client may then face default and some liability may come back to you.
Best of luck. If I can help, let me know.Dan WallaceSVPEnterprise BankNational, direct SBA lenderFast and creative financing solutions970-390-6650dwallace@enterprisebank.com
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