Tilt Holdings cannabis affiliate in Pennsylvania secures $10.5 million loan

On May 11, 2024

Pennsylvania’s Standard Farms, a subsidiary of Arizona-based cannabis multistate operator Tilt Holdings, secured a $10.5 million loan.

The loan will fund Standard Farms’ plans to build and run medical marijuana dispensaries in Pennsylvania, according to a news release.

An unidentified “experienced retailer and operator” issued the secured promissory note, the release noted.

Standard Farms can borrow up to $10.5 million to build and operate up to three medical marijuana dispensaries.

The promissory note matures on Dec. 31, 2027, and the loan carries a 20% interest rate.

The interest increases to:

30% once Standard has opened its first dispensary and completed a sale. 40% six months after the first location opens.

No payments will be due before the maturity date, but