Business

Advanced Flower Capital Renews Senior Secured Revolving Credit Facility with Lead Commitment from FDIC-Insured Bank

WEST PALM BEACH, Fla., May 02, 2025 (GLOBE NEWSWIRE) -- Advanced Flower Capital Inc. (NASDAQ: AFCG) (“AFC”) today announced that it has renewed its senior secured revolving credit facility (“Credit Facility”) with a lead commitment from an FDIC-insured bank with over $75 billion of assets. AFC intends to use availability under the Credit Facility to fund unfunded commitments to existing borrowers, to originate and participate in commercial loans to cannabis operators in line with its investment

articleAdvanced Flower Capital Inc.May 2, 20253/company/afc-gamma-inc/news/advanced-flower-capital-renews-senior-120000329
Advanced Flower Capital Renews Senior Secured Revolving Credit Facility with Lead Commitment from FDIC-Insured Bank

About this update from Advanced Flower Capital Inc.

[{"type":"image","alt":"Advanced Flower Capital","displaySize":"","headline":null,"caption":"Advanced Flower Capital","className":"","disableSlideshowImg":false,"size":{"original":{"width":300,"height":107,"url":"https://media.zenfs.com/en/globenewswire.com/4f43dcc06aef24305efa01c71eff80c2"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/qNXQHag9zS9Q6exE36RkcA--/YXBwaWQ9aGlnaGxhbmRlcjt3PTQyMDtoPTE1MDtjZj13ZWJw/https://media.zenfs.com/en/globenewswire.com/4f43dcc06aef24305efa01c71eff80c2","width":300,"height":107}},"lazy":false},{"type":"text","content":"WEST PALM BEACH, Fla., May 02, 2025 (GLOBE NEWSWIRE) -- Advanced Flower Capital Inc. (NASDAQ: AFCG) (“AFC”) today announced that it has renewed its senior secured revolving credit facility (“Credit Facility”) with a lead commitment from an FDIC-insured bank with over $75 billion of assets. AFC intends to use availability under the Credit Facility to fund unfunded commitments to existing borrowers, to originate and participate in commercial loans to cannabis operators in line with its investment strategy, and for working capital and other general corporate purposes.","length":571,"tagName":"p"},{"type":"text","content":"The Credit Facility, which includes the ability to expand to $100 million, subject to lender participation and available borrowing base, has a maturity date of April 29, 2028, and bears interest at a floating rate of Prime + 0.50%, subject to a Prime floor of 6.50%.","length":266,"tagName":"p"},{"type":"text","content":"“We are pleased to renew our senior secured credit facility with a long-standing banking partner of this scale. This facility plays a central role in how we finance the business, and we look forward to continuing to build on this strong relationship as we pursue additional commitments over time,” said Brandon Hetzel, AFC’s Chief Financial Officer.","length":349,"tagName":"p"},{"type":"text","content":"About Advanced Flower Capital Inc.","length":34,"tagName":"p"},{"type":"text","content":"Advanced Flower Capital Inc. (NASDAQ: AFCG) is a leading commercial mortgage REIT that provides institutional loans to state law compliant cannabis operators in the U.S. Through the management team’s deep network and significant credit and cannabis expertise, AFC originates, structures and underwrites loans ranging from $10 million to over $100 million, typically secured by quality real...

More updates from Advanced Flower Capital Inc.

Credit FacilityAdvanced Flower Capital Inc.revolving credit facilityAFCForward-Looking StatementsAFCGWEST PALM BEACHcommercial loanscannabis cultivationinvestment strategy