First Citizens Bank’s hemp business provided a $1 million working capital line of credit to RYJO, the parent entity of The Georgia Hemp Company, to help finance a new promotional initiative.
The Georgia Hemp Company currently operates four storefronts in the state of Georgia with locations in Atlanta/Sandy Springs, Woodstock, Decatur and Duluth. Each store sells a host of hemp and related products, including hemp oil, hemp flower, edibles, home goods and skincare.
“RYJO’s new working capital financing will support our brand awareness and development,” Ryan Dills, co-owner of The Georgia Hemp Company, said. “We appreciate First Citizens Bank and its hemp division for their deep industry knowledge, strong financial capabilities and commitment to our growth.”
“We were delighted to work with The Georgia Hemp Company to understand their needs and support their ongoing operations by providing this line of credit for their working capital needs and growth opportunities,” Ryan Palmquest, director of the hemp business at First Citizens Bank, said. “I would like to compliment First Citizens Bank lender Angela Parks and business banker Alexi Strish, both of whose efforts were invaluable to the success of this transaction.”
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