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XS Financial Provides $5MM Lease Facility for Cannabis Operator’s Expansion

November 03, 2020, 07:07 AM
Filed Under: Cannabis

XS Financial Inc., a specialty finance company providing scalable equipment leasing solutions to cannabis and hemp companies in the United States, announced it has entered into a lease agreement with a large scale, vertically integrated multi-state operator. The customer has been approved for an equipment lease facility of up to $5 million, which can be drawn upon in multiple tranches as needed, with 48-month terms.

“We are providing equipment financing that will help support the growth of a large, publicly traded multi-state operator focused on some of the most attractive cannabis markets in the United States,” said David Kivitz, CEO of XS Financial. “The customer has already drawn on three different lease schedules for an aggregate of $419,000, with financed equipment being deployed in Nevada and Massachusetts. While we are not able to name the customer at this time due to confidentiality reasons, they are a great fit for us strategically and we see strong potential for repeat business.”

For more information on XS Financial, which changed its name from Xtraction Services, see Equipment Finance Advisor’s interview with Kenneth Senter.

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