We acted on behalf of Client, a vertically integrated industrial hemp processing company, in connection with their acquisition of their new manufacturing laboratory located beneath the beautiful Cascade Mountains in Central Oregon
As a consequence of being a new business faced with limited working capital, to purchase the 2.51 acre property, Client sought to receive funding from the SBA to purchase the property. To facilitate the receipt of the nearly $1,000,000 SBA 5a Loan, we needed to comply with the Lender’s strict and rigorous closing protocols.
To comply with the Lender’s protocols and multiple title issues identified by the Lender needed to be cleared, including but not limited to, clearing various judgments, construction liens, and UCC liens attached to the property, helping our Client’s file and providing a Certificate of Formation, an Operating Agreement, and Certificate of Good Standing, and securing insurance policies, liability insurance, and workers compensation insurance for our Client.
After meticulously complying with the SBA’s loan requirements, our Client was able to purchase the property in which they now have a full team consisting of cannabis extraction industry professionals, chemists, product manufacturing professionals, and industrial hemp entrepreneurs with a common vision to bring the highest level of product quality, research & development, customer service, and professionalism to the industrial hemp industry.
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