logo
logo

Afc Gamma Enters Into $60 Million Senior Secured Revolving Credit Facility With Commitments From Two Fdic-Insured Banks

Afc Gamma Enters Into $60 Million Senior Secured Revolving Credit Facility With Commitments From Two Fdic-Insured Banks

05/02/22, 8:30 AM
Location
https://purecatamphetamine.github.io/country-flag-icons/3x2/US.svgwest palm beach
Money raised
$60 million
AFC Gamma, Inc. (NASDAQ:AFCG) (“AFC Gamma”) today announced that it has entered into a senior secured revolving credit facility (“Credit Facility”) with $60 million of current commitments from two FDIC-insured banks and the ability to increase the facility to $100 million. The two banks have over $70 billion of assets in the aggregate. AFC Gamma intends to use the available capital from the Credit Facility to fund unfunded commitments under loans to its existing borrowers, to originate and participate in commercial loans to cannabis operators that are consistent with its investment strategy, and for working capital and other general corporate purposes.

Company Info

Company
Afc Gamma
Location
west palm beach, florida, united states
Additional Info
About AFC Gamma AFC Gamma, Inc. (NASDAQ:AFCG) is an institutional lender that provides a range of lending solutions to established operators in the cannabis industry.