AFC Gamma Provides New Senior Secured Credit Facility and Extends Existing Facilities

AFC Gamma closed a new senior secured credit facility for Private Company Q and expanded its existing senior secured credit facilities for BeLeaf Medical and Sunburn Cannabis._x000D_
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Private Company Q_x000D_
AFC has committed $11 million, with $4.3 million funded at closing, in a senior secured credit facility to Private Company Q, a Georgia-based operator holding a Class 2 cannabis license. The funds will be used towards the buildout of a cultivation and processing facility and to establish two new dispensary locations in Georgia. This credit facility will support Private Company Q in expanding its operations within the state, furthering its ability to serve the growing medical cannabis market._x000D_
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BeLeaf_x000D_
AFC has committed an additional $5.5 million under the expansion of BeLeaf’s facility and holds the entire $26.1 million expanded credit facility. The additional funds will be used to partially finance the acquisition of two dispensaries in Missouri, increasing the borrower’s vertical integration in the state. The terms of the credit facility remain consistent with the original agreement._x000D_
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Sunburn_x000D_
AFC has committed an additional $1.8 million under the expansion of Sunburn’s credit facility and holds the entire $36.5 million expanded credit facility. The additional funds will partially finance the borrower’s buildout of two new dispensaries and additional low-cost cultivation capacity in Florida. The terms of the credit facility remain consistent with the original agreement._x000D_
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“At AFC, we are dedicated to fostering strong, lasting relationships by working together with our borrowers as they grow their businesses. We are excited to initiate a new relationship with Private Company Q, helping them establish a strong foothold in Georgia,” Daniel Neville, CEO of AFC, said. “Additionally, we are pleased to strengthen our support for BeLeaf and Sunburn, providing additional capital as they expand their operations in key markets. These investments align with our strategy to deploy capital in restricted license states with attractive supply-demand dynamics.”_x000D_
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AFC will hold the entire credit facility for BeLeaf, Sunburn, and Private Company Q, each of which consists of a first-lien term loan secured by all assets of the respective borrower. AFC Agent served as agent for these transactions.