Sweet Leaf Madison Capital closes $600k loan to West Virginia-based medical cannabis company

Sweet Leaf Madison Capital SLMC, a nationwide provider of customized debt financing solutions for the middle-market cannabis industry, announced the closing of a loan for more than $600,000 to Harvest Care Medical, a West Virginia-based medical cannabis company. The loan will be free-up capital to help the company expand beyond its initial single-grow site, as part of a refinancing of Harvest Care's prior equipment purchases.

Harvest Care is another established cultivator that Sweet Leaf Madison has financed, and is the first business we've worked with in the state of West Virginia, said Andrew Kaye, chief commercial officer of SLMC. We are excited to expand our footprint in the United States, especially in a limited-license state like West Virginia, and partner with a group that is far ahead of its competition in terms of operational efficiency, quality of operation and output. Harvest Care Medical was one of the first 10 companies to have a medical cannabis cultivation license in the state in 2020.

Bill Freas, CEO of Harvest Care Medical, said that the goal is to reach every patient in West Virginia who needs the best medical cannabis. We are grateful for the support of Sweet Leaf Madison in our efforts to achieve this goal. Their team has been incredibly easy to work with, and they understand the challenges that cannabis businesses face. This equipment loan will help make a big difference in the lives of West Virginia patients. Cannabis M&A Activity On Fire: But Is It What Was Expected? Experts say, Look At Q 1 Earnings