Marijuana Business Daily

For plant-touching marijuana companies, most lending options tied to property

Published

2 years ago

February 1, 2023

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When it comes to borrowing money as a marijuana company, most roads lead to real estate.

“The industry has challenges accessing capital markets that other industries do not,” Travis Goad, managing partner at Pelorus Equity Group, said of plant-touching marijuana companies.

“In a fully developed market, there’s real estate as one lending source and then there are pure corporate loans as another lending source. In this space, the vast majority of financing is tied to your real estate,” added Goad, whose firm is a cannabis-focused real estate lender.

Applications for cannabis business licenses often require proof of real estate, leaving precious little capital for successful applicants to get their companies up and running.

For marijuana businesses that own property, there are three main ways to borrow, according to Goad, who runs Pelorus’ New York office:

Real estate lending: These loans require borrowers to contribute 25%-40% in

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Marijuana Business Daily

Massachusetts’ adult-use marijuana sales topped $1.6 billion in 2024

Published

3 days ago

January 24, 2025

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Marijuana retailers in Massachusetts recorded $1.65 billion in sales of adult-use products between Jan. 1, 2024, and Jan. 5, 2025.

That’s according to data from the state’s Cannabis Control Commission, which noted that recreational cannabis sales in December 2024 reached $140.2 million, the third-highest monthly total since Massachusetts legalized an adult-use market in November 2018.

Other top sales months were August 2024 ($147.6 million) and July 2024 ($142.8 million).

During the week ended Jan. 5, 2025, flower represented 40.5% of sales, vapes 19% and pre-rolls 12.6%, followed by edibles and concentrates.

In April, Massachusetts cannabis regulators announced that adult-use sales had surpassed $6 billion since the market launched.

According to the latest figures, recreational cannabis sales in Massachusetts now top $7.2 billion.

Despite

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Marijuana Business Daily

Trudeau’s departure is a turning point for Canada’s cannabis industry

Published

3 days ago

January 24, 2025

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(This is a contributed guest column. To be considered as an MJBizDaily guest columnist, please submit your request here.)

Deepak Anand (Courtesy photo)

As Canada’s cannabis industry stands at a pivotal crossroads, the impending departure of Prime Minister Justin Trudeau marks the end of an era that reshaped Canada’s relationship with the plant.

Trudeau’s bold decision to legalize recreational cannabis in 2018 not only transformed the nation’s social and economic landscape but also established it as a global pioneer in marijuana reform: Canada remains the only G7 nation to have federally legalized the plant both for medical and adult-use purposes.

The impact of cannabis legalization on Trudeau’s legacy is undeniable.

Recent polls indicate that 62% of Canadians support cannabis legalization, a testament to

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Marijuana Business Daily

President Trump will decide marijuana rescheduling, federal reform

Published

5 days ago

January 22, 2025

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Did Donald Trump mean it when he said he wanted marijuana reform – and will the former and current president follow through?

With the marijuana rescheduling process paused indefinitely – its future is at the mercy of Trump’s future choice to lead the U.S. Drug Enforcement Administration – and Republicans in Congress mostly bent to the once and current president’s will, nothing less than the future of the $32 billion marijuana industry depends on the answer.

Trump made history in September when he became the first major-party presidential nominee to endorse a state adult-use legalization campaign.

Though Trump’s backing of Florida’s Amendment 3 – some critics say his endorsement was mostly spurred by his acrimonious relationship with Florida Gov. Ron DeSantis – didn’t

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