StandardC, a leader in cannabis & marijuana banking and financial services, announced today that its lending partner had closed the first $5 million loan from their newly established $200M fund for a leading marijuana cultivator using the StandardC platform. This partner has extensive knowledge in the cannabis lending sector, including facilitating real-estate loans and mobilizing growth capital for companies such as Harborside, Caliva and other multi-state operator (MSOs).

While most lenders have been reticent to serve the state-licensed cannabis industry, StandardC’s lending network has broken new ground to offer cost-effective financing. StandardC’s new credit facilities have increased the network’s capacity to offer enhanced banking services for over 1,500 marijuana and cannabis businesses.

Robert Mann, StandardC CEO, was quoted saying:

For too long the cannabis industry was unable to access loans and credit lines without having to pay a Cannabis Tax. In this tax, lenders can charge high fees and exorbitant rates of interest. This network enables a group of lenders to offer affordable real estate loans, credit lines, and other services.
Robert Baron was CXO for StandardC.

StandardC’s pre-qualification technology and monitoring technology help lenders make sure that cannabis-related businesses comply with federal and state laws.

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