Los Angeles Finance Co. To Fund Expansion Projects In Cannabis Sector With $15M Credit Line
Portfolio Pulse from Jelena Martinovic
XS Financial Inc. has secured a $15 million line of credit to fund expansion projects in the cannabis sector. The company plans to use the loan proceeds and cash on hand to fund additional CAPEX and equipment leases with new and existing customers. The news comes as the number of banks and credit unions working with cannabis companies is at a record high, and ahead of the Senate Banking Committee's vote on cannabis banking reform.
September 19, 2023 | 1:26 pm
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POSITIVE IMPACT
XS Financial's new credit line could boost its ability to fund expansion projects, potentially leading to increased revenues and growth.
The secured credit line provides XS Financial with additional resources to expand its portfolio of equipment leases. This could lead to increased revenues and growth for the company, especially given the growing number of financial institutions working with cannabis companies.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
XS Financial's new credit line could boost its ability to fund expansion projects, potentially leading to increased revenues and growth.
The secured credit line provides XS Financial with additional resources to expand its portfolio of equipment leases. This could lead to increased revenues and growth for the company, especially given the growing number of financial institutions working with cannabis companies.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100