Harborside Signs $12M Credit Facility With Commercial Bank

Law360 (March 23, 2021, 9:38 PM EDT) -- California cannabis company Harborside said Tuesday that it will receive a $12 million credit facility from a commercial bank, a rare scenario for the federally illegal industry as it struggles to convince traditional lenders to come on board.

The senior secured revolving-credit facility, a type of loan, allows Harborside to borrow up to $12 million from the bank, according to the company. Harborside plans to use the money to build its planned 47-acre cultivation facility in Salinas, California, it said.

The loan is a first for this bank, which Harborside is not naming as part of the terms of the deal, according...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!