Helping to Finance Your Cannabis Related Business Needs
Getting a loan as a landlord of a cannabis related business (CRB) can be a challenge. Whether your tenant is a dispensary retailer, manufacturer, or storage facility, Bank Michigan can help finance your project.
Providing commercial real estate owners who have CRB tenants such as:
- Storage properties
- Retail strip centers
Due to the specialty nature of these types of loans, we require project sponsors to have significant liquidity and experience owning commercial real estate. The typical loan to values* for CRB real estate fall into the 80% to 85% range. All loans approved are conditioned upon the borrower obtaining and maintaining operating deposit accounts with Bank Michigan.
Do you have a tenant that’s a Cannabis Related Business (CRB)? Bank Michigan can help!
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Loan to value is determined by using the non-CRB market value of the property. CRB loans are generally considered higher risk than non-CRB loans. As a result, our loan pricing takes into consideration these loans are subject to more due diligence and compliance requirements as compared to non-CRB loans. As with most loans here at Bank Michigan, individuals/businesses having 20% or more ownership interest will be required to guarantee the loan.