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A fast growing cannabis store chain requested a loan from Avana Companies to expand their operations in the cannabis dispensary business.
Avana and the investor closed an $8 million loan deal on June 11, 2022 to fund the purchase of equipment that will be installed in their new leased space in Santa Barbara, CA. The new location will operate as the company’s cannabis grow facility. The investor anticipates that the improvements will be completed, and the facility will be operational by January 2023.
AVANA is proud to help and support the growth of this cannabis business and other cannabis businesses across the nation.
AVANA cannabis financing and dispensary loans empower entrepreneurs to navigate the challenges of the cannabis industry through reliable, flexible, and affordable solutions. We want entrepreneurs to reach their full potential and succeed in their cannabis business ventures.
| Loan Amount | $8,000,000 |
| Loan Purpose | Acquisition |
| Loan Type | Cannabis CRE |
| Project Date | June 11, 2022 |