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XS Financial Provides $17MM Equipment Lease Facility to Cannabis Operator

June 29, 2021, 07:13 AM
Filed Under: Cannabis

XS Financial Inc., a specialty finance company providing equipment leasing solutions to cannabis 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 $17 million for new equipment on up to 60-month terms and has already drawn on $4.3 million. This equipment acquisition will help further expand their cultivation, manufacturing and processing facilities in multiple states. With the completion of this facility, XS Financial will be entering into certain new markets.

David Kivitz, CEO of XS Financial, commented, "We are excited to add to our growing portfolio of top-tier U.S. multi-state operators. This customer has developed a significant footprint in critical markets nationwide and we are thrilled to provide them with access to important financing for their CAPEX needs. We spent considerable time with their team throughout this transaction and look forward to supporting them with our non-dilutive CAPEX financing through their next phase of growth."

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