The Michigan cannabis cultivator and extractor, Driven Grow, receives mortgage financing
Sweet Leaf Madison provided lending services and financial solutions for the Michigan-based grow, extraction, and packaging company
Sweet Leaf Madison Capital, provider of tailored, non-dilutive capital solutions for the cannabis industry, today announced the closing of a first mortgage loan for Driven Grow, the Michigan-based cannabis cultivation, extraction, and packaging company. The transaction included a refinancing of existing indebtedness and an increase in their current senior mortgage financing to partially fund the development of their property located in Frederic Township, Michigan.
“Driven Grow is the perfect example of why we are in this industry – they demonstrate that quality, craft cannabis is a profitable business model. We will always support that,” said Ted Harris, Founder & Executive Managing Director of Sweet Leaf Madison. “We look forward to a continuing symbiotic relationship as they continue to grow their exceptional business.”
“Sweet Leaf Madison is our go-to source for growth capital,” said David Kramer, CFO of Driven Grow. “They were extremely creative, responsive, and understood our needs and constraints for this specific project. They were able to tailor a deal specifically for us. We are thrilled to be working with them.”
Driven Grow was built using operating experience from the medical caregiver program that began in 2008. Construction on its first building began in 2018, and was completed in 2019. Full licensing was secured in March of 2019.
Over the last three years, Driven Grow has added an additional 25,000 sq. ft. to support infrastructure for cultivation, extraction, packaging facilities, and greenhouse cultivation. The company currently owns 70 acres of land, and has an additional 7 acres of rented outdoor grow space nearby. The current facility space is set to expand to 50,000 square feet, with the construction project currently under way.
About Sweet Leaf Madison Capital:
Sweet Leaf Madison Capital provides non-dilutive, asset-based lending solutions to the cannabis industry by originating real estate loans, equipment financing, securitized term loans, and more for entrepreneurs and businesses. The company is based in Denver, CO and has offices in New York City and West Palm Beach, FL.
For more information, please visit https://sweetleafmadison.com/
About Driven Grown, LLC: Driven Grow is a cannabis cultivation and extraction company that uses the proper techniques and skills to produce top quality cannabis products for medicinal and recreational use.
With over 60 years of combined cultivation experience in Michigan’s medical marijuana space, Driven Grow was founded with a focus to create the best flower and concentrate experience, while offering reliable relief through perfecting our craft of cannabis cultivation and extraction.
For more information, please visit https://www.drivengrow.com/
Source: Sweet Leaf Madison Capital