Does anyone know of any Marijuana Dispensary Lenders
Does anyone know of any lenders who would lend on a marijuana dispensary in MA. Either national lenders or local. Thanks for the help.
[{"id": "h4yic6q", "text": "You're only gonna find private lenders.", "replies": [{"id": "h4zdgko", "text": "That\u2019s not true, there\u2019s a small amount of local banks that have cannabis accounts. I\u2019d say the number is under 5 but they are out there.", "replies": [{"id": "h4zivek", "text": "Link me fam. We can\u2019t find any\ud83d\ude02", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "h4yjexr", "text": "CBD is still illegal on the federal level.  Therefore, lenders are unable to conduct business within that industry.", "replies": [{"id": "h4ym8tv", "text": "&gt;CBD is still illegal on the federal level.\n\n\\[citation needed\\]", "replies": [], "depth": 2}, {"id": "h4ymhiq", "text": "I don't believe so, hemp was legalized in the farm bill a few years back.", "replies": [{"id": "h4z98ev", "text": "No, it was not.  It was **introduced** in the Farm bill but the FDA never followed through with protocols.  I'm right in Washington DC and have three potential Tenants seeking to lease properties for CBD.  I've spoken to several attorneys and accountants regarding this.\n\nDon't need to believe me.  Go to any bank and ask if you can open an account for a business selling CBD.  Since banks are federally regulated you'll find the answer.\n\nEDIT: Google \"CBD is technically illegal federally\".  You can also read on [FDA.gov](https://FDA.gov) regarding CDB products.", "replies": [{"id": "h4zesxx", "text": "This is what Google gives you when you search that \n\n\"The Farm Bill distinguished hemp from cannabis, meaning\u00a0CBD\u00a0products are not considered drugs unless they contain over 0.03% THC, and can therefore be used and distributed legally. It's important to note, though, that\u00a0CBD\u00a0is\u00a0still federally illegal\u00a0when it is infused into food or labeled as a dietary supplement\"", "replies": [], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "h4ykgnd", "text": "None that want to keep their federal deposit insurance.\n\nYou might find an extremely small local lender to give you a wink &amp; nod loan on something else completely unrelated (cash out refi your house/investment property) without asking what you plan to use the funds for... but most that know what you plan are going to run away.\n\nSeriously, if you have existing banking relationships don't tell them what you're doing. You could easily get your other deposit accounts closed by the compliance department.", "replies": [{"id": "h4ymsm0", "text": "I run a fairly decent sized weed business in California and can't even get a checking account let alone a loan with full disclosure. It's a silly situation that is untenable and needs fixing. I just hope the feds release a digital dollar and do away with banks charging people for access to their own money.", "replies": [], "depth": 2}, {"id": "h4yp3ah", "text": "I opened a new business account today and the last form was \u201care you in the weed business\u201d. I have friends in the space and essentially you are paying loan shark interest.  I have a buddy who had to choose between 18% interest or 20% of his grow for 5 years\u2026.", "replies": [], "depth": 2}, {"id": "h4yx5p7", "text": "Yeahh I see what you are saying with basically having a bank do you a favor. It\u2019s just not a line I want to be dancing around when the business is already kinda dancing the line.", "replies": [], "depth": 2}], "depth": 1}, {"id": "h4yqecj", "text": "We have been active in raising debt for cannabis related properties. Both from banks and debt funds. Email me at jp@levcapital.com", "replies": [], "depth": 1}, {"id": "h4yvpjq", "text": "It is tough - you'll be in private/hard money unless something has changed. I have gotten quotes from Socotra Capital before (I think nationwide) and Montegra Capital (might be CO only). \n\nThe terms are tough. One quote was for 40%LTV @ 10.25% or 50% LTV @ 11.25%, 2 point fee, 2 year term.\n\nI would be very skeptical of loan brokers in this situation. Basically anyone who lends on cannabis advertises online. I did go to a broker later and they just came back with term sheets from the same guys, except now you've got a broker fee on top. \n\nSource - previously owned (as LL) a grow facility.", "replies": [{"id": "h4zfaof", "text": "Montegra is only in CO.", "replies": [], "depth": 2}], "depth": 1}, {"id": "h4zd0tw", "text": "PM\u2019d you with one. There\u2019s maybe a handful of local banks nationwide that have cannabis accounts.", "replies": [{"id": "h55o938", "text": "Could you also PM me? Thanks", "replies": [{"id": "h55om1b", "text": "Parke Bank in NJ, I use them for my hotels and rentals, great bank. I know for a fact they have multiple cannabis accounts on their books from all over the country.", "replies": [{"id": "h55q5sh", "text": "Awesome. I know Radius Bank in CO has some on their books as well, but great to know of a lender in the northeast.", "replies": [{"id": "h55qjid", "text": "I was shocked when I found out but it makes sense. A small state chartered bank has a lot less red tape. \nCan\u2019t believe it\u2019s 2021 and it\u2019s still not legalized..", "replies": [], "depth": 5}], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "h4zgicz", "text": " No. that\u2019s why those deals trade for like 12 caps", "replies": [], "depth": 1}, {"id": "h4zhiwp", "text": "You can try [Suite 420 Solutions](https://www.suite420solutions.com/)", "replies": [], "depth": 1}, {"id": "h510c9y", "text": "Do you need it for the real estate itself or for the licensure? Big difference in how you can swing the deal.", "replies": [], "depth": 1}, {"id": "h5150i1", "text": "Private equity is probably going to win the day for a transaction like this. Or your closest private lender contact.", "replies": [], "depth": 1}, {"id": "h52vfcn", "text": "These guys are local and great to work with.  Reach out to them.\n\nhttps://www.privatemoneynm.com/", "replies": [], "depth": 1}, {"id": "h6ln4u6", "text": "PM'd", "replies": [], "depth": 1}, {"id": "h7mci67", "text": "I\u2019m based in RI. I would gladly put a loan up.", "replies": [{"id": "hdgz8x0", "text": "Are you a lender? I am looking for financing for 3 dispensaries in Massachusetts.", "replies": [], "depth": 2}], "depth": 1}, {"id": "h7pfai3", "text": "For some clarity, are we talking about lending to a dispensary business, or for purchase of the real estate associated with the business?", "replies": [], "depth": 1}, {"id": "igo5251", "text": "There are institutional lenders, hard money lenders, family offices, and some banks that participate in the cannabis industry.  I wrote a breakdown of how they operate here:\n\n[https://www.reddit.com/r/weedbiz/comments/vxijpc/how\\_to\\_find\\_cannabis\\_business\\_lenders/](https://www.reddit.com/r/weedbiz/comments/vxijpc/how_to_find_cannabis_business_lenders/)\n\nThe short answer is \"yes\", dispensary loans are out there, and the type of loans available are typically real estate/construction, acquisition, and lines of credit.", "replies": [], "depth": 1}]