Cashout Refi for Commercial loan with licensed dispensary tenant

2 Replies

Hello.  I am new to this post and please help me follow all rules.

Has anyone tried to do a cash out refinance on a fully paid multi unit commercial property with local and state licensed dispensary as one tenant?  We tried it couple of years ago and bank turned it down because of the dispensary.  This is for California.  Thank you for anticipated sharing of your experience and knowledge.

Christopher Kim

@Christopher Kim You'll want to connect with a bank that is openly targeting cannabis related properties.  They'll already know what they're looking for and not get hung up on the business/reputation aspect like your average big bank might do.  We have reps from these lenders coming into our office somewhat regularly (being in SoCal) trying to see if we have any cannabis deals to size up.  

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