Hemp Investor
Helping you find the best Cannabis products, news, media and Investing opportunities

Tilt Holdings cannabis affiliate in Pennsylvania secures $10.5 million loan

0


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.

ADVERTISEMENT

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

Read full article on Marijuana Business Daily



Source link

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More