ARTICLE · 20 JUNE 2024

Institutional Cannabis Lenders Community Is Growing

Brennan Manna & Diamond

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BMD Attorneys Stephen Lenn and Brandon Pauley are pleased to provide the following report on the organizational meeting of the Institutional Cannabis Lenders Community (ICLC) that we initiated...

United StatesCannabis & Hemp

Brennan Manna Diamond

BMD Attorneys Stephen Lenn and Brandon Pauley are pleased to provide the following report on the organizational meeting of the Institutional Cannabis Lenders Community (ICLC) that we initiated and formed.

As indicated in prior blogs, for purposes of this Community, institutional lenders include banks, credit unions, dedicated cannabis loan funds and family office/ultra-high net worth investors.¹

The ICLC now has 21 participants including banks and credit unions (ranging in size from single-state community institutions to 2 of the 50 largest US banks), a credit union service corporation that syndicates cannabis loans to credit unions, dedicated cannabis funds (including Altmore Capital, Chicago Atlantic Silver Spike and Rainbow Realty), several specialty lenders, investment banks and family office advisers.

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