SEATTLE, July 23, 2019 /PRNewswire/ -- TriGrow Systems, a leading end-to-end cultivation solutions provider, announced today the addition of a Term Loan product through TriGrow Capital, a division that helps leading operators finance the growth of their businesses through both capital and technology resources.
This division aims to address some of the funding and growth challenges unique to the cannabis industry, by providing equipment financing options and enabling companies to scale rapidly with more balance sheet flexibility. TriGrow Capital has deployed $5.4M to date, across 2 deals in Washington and Colorado, and this new financing facility of $30M will be deployed over the next 12 months.
"We are working to solve a critical need we have seen in this industry for financing capital expenditures," said TriGrow's Chief Business Development Officer and Head of TriGrow Capital Richard Weinstein. "Cultivators of all sizes and across the globe are seeking options to finance their growth plans and we are endeavoring to meet their needs, offer the choices our customers deserve, and be as helpful as we can to foster their success."
This Term Facility will be provided by Agrinamics, a crucial technology & manufacturing partner to TriGrow. "We have been working closely with TriGrow for some time and have been impressed with the forward-thinking solutions they deliver," said Agrinamics' COO Jim Boudreau. "We believe that with this new financing facility, TriGrow will be able to both help their customers achieve success and greatly accelerate the implementation of their unique offerings in this industry."
TriGrow Capital recently announced a lease financing product and first transaction with a leading Seattle-based producer. Along with this new term facility, the company will continue to explore additional financing avenues on both structure and duration.
TriGrow will be exhibiting at the NCIA San Jose Cannabis Business Summit July 22-24th and invites operators to visit their booth on the exhibit floor, number 1742.
TriGrow is an ancillary company providing end-to-end cultivation solutions in which each element has been designed and custom engineered to work seamlessly together to produce the highest quality consistent flower with the lowest associated operating cost. TriGrow's supportive ecosystem includes Systems, Capital, Supply and Brands.
Agrinamics, Inc. is a Massachusetts-based developer, manufacturer and distributor of hardware and software solutions for the indoor agriculture market. The company's solutions enable highly efficient production of crops in a controlled, pesticide free environment, enabling indoor growers to be very competitive in the marketplace for cannabis and other high-value crops.
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