I don’t think I need to tell you how big this news is. We’ve been working hard over the last several years waiting for the day that banks start looking at the cannabis industry and it’s finally starting to happen.

We’ve closed deals in the past with pricing at 17% interest, and while that may sound like a lot it got the deal done when no one else would do it. Now we have a bank that is offering bank rates on cannabis commercial real estate and they’ll even provide construction loans.

They haven’t been in the cannabis space for very long so their criterium is still very exclusive but they’re lending out money at 5.75 – 6%, 3-5 year term, and amortized over 25 years with no max loan size!

Right now they’re only interested in deals in California and the NYC tri-state area. However, they will do construction financing and will consider Palm Springs and Desert Hot Springs in CA.

If you’ve been waiting for competitive rates on cannabis loans NOW is the time. Check out their criteria below and give us a call if you have a deal.

They’re looking for:

• Deal Sizes:
  • $1.5M – $5M
• LTV: 
  • Up to 65%
  • Based off of the non-cannabis value
• Interest Rate:
  • 5.75-6%
• Term:
  • 3-5-years
    • Amortized over 25 years
• Geographics:
  • Infill locations only
    • CA & NYC Tri-State only
      • Will consider Desert Hot Springs & Palm Springs
• Very “borrower driven”
• Property types:
  • All types
  • Will do construction
• Recourse required

If you have a deal that meets these criteria, then we should talk. Click here or shoot us an email at Justin@encapital.com and let’s get started today!