bank loan for marijuana commercial retail - Colorado

[Lucy Can]

Hello

When all banks are refusing, who can the investor approach for a loan to buy commercial property occupied by marijuana dispensary. It is 1 retail 100% occupied by dispensary.  Located in Colorado. I am ready to put in 40-50% but still banks are refusing.  What avenues can I pursue.

Thank you

[Genna Golden]

Since marijuana dispensaries are illegal on federal level and governed by the states, federal loan programs cannot even consider funding them. Until they are legal on federal level, private funding is the only way to go.

I own a single tenant building that is mj dispensary in Oregon. Purchased all cash. It is currently a good hedge as the marijuana business is booming during Covid Crisis (essential services like a pharmacy) and a property with no bank loan and NNN tenant is very little stress.