XS Financial Inc., a specialty finance company providing CAPEX and equipment financing solutions to cannabis companies in the United States, announced it has entered into a new lease agreement with Temescal Wellness, a Massachusetts operator with multiple locations across the state.

Temescal Wellness has been approved for a $3 million equipment lease facility to purchase new equipment with up to 60-month terms. This equipment acquisition will expand the capabilities of existing processing facilities.

Michael Bates, Controller of Temescal Wellness, said, “Given the challenges faced in the cannabis industry, we diligently explored multiple financing options to evaluate the best return with respect to the pending completion of our North Adams facility. XS Financial was straight-forward through the process and offered the flexibility needed in the project. The biggest advantage they offered was their willingness to be a partner in equipment procurement. With extensive experience in the market, XS Financial worked with us to ensure we were putting funds to good use.”

David Kivitz, CEO of XS Financial, said, “We are excited to support our new customer with their CAPEX financing needs as they expand their market position in Massachusetts. Temescal Wellness has grown consistently over the past several years and are well-positioned for continued growth.”