Closed: $670K Refinance for Cannabis Dispensary
Just Closed in Willingboro, NJ! Gelt Financial just funded a $670K refinance for a unique project—a former bank being converted into a cannabis dispensary.
Traditional banks wouldn’t touch the deal because of the cannabis use, but we saw the strength in both the borrower and the location. With 100% of rehab funds in holdback and no appraisal required, we got it done at 61% LTV.
This borrower has excellent credit and a clear vision, and now they’ve got the funding to bring it to life. When your bank says NO, we say YES!
About Gelt Financial
Gelt Financial is a non-bank commercial real estate lender. We closed more than 10,000 loans totaling over $1 billion since 1989. Gelt focuses on providing debt to non-bank borrowers on all types of commercial real estate, including but not limited to multifamily, office, retail, warehouse, industrial, self-storage, and mixed-use.
For more info on how Gelt can help you with an investment property or on any of our other various products and services, look at what President Jack Miller does on Gelt’s YouTube channel, and for more info on our completed deals, check our Deals Done.
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