Payment Service Provider Deal
AVANA Companies facilitated a $500,000 revolving line of credit to a payment service provider located in Denver, Colorado, that services the growing cannabis industry. The borrowers are successful entrepreneurs trusted by leading brands in over 30 states. They anticipate growth as the cannabis industry matures in Colorado and expands nationwide and this funding will help them continue scaling their business.
Led by AVANA Companies Chief Lending Officer, Sanat Patel, the team at Extensia Financial Credit Union worked closely with Partner Colorado Credit Union to develop favorable terms that provided immediate capital to fund new business endeavors.
“At AVANA, our team’s main objective is to give accessible and personalized loans to disadvantaged business owners, like those in the cannabis industry, who are turned away by traditional banks,” says Sanat Patel, Co-Founder and Chief Lending Officer at AVANA Companies. “We’re proud to provide these successful entrepreneurs with financing that will support their continued growth.”