XS Financial, a specialty finance company providing CAPEX and equipment financing solutions to cannabis companies in the United States, entered into a new lease agreement with Northeast Alternatives, a vertically integrated cannabis company that operates in Massachusetts and Michigan.

Northeast Alternatives was approved for a $7.5 million CAPEX lease facility, with an immediate drawdown of more than $1 million, to purchase equipment with up to 60-month terms.

“We found the experience working with XS Financial to be timely, effective and efficient,” Rich Rosier, co-founder and CFO of Northeast Alternatives, said. “We look forward to continuing our relationship with XS Financial through completion of this project in Michigan as well as our planned expansion projects in the future.”

“We are thrilled to add Northeast Alternative to our rapidly expanding portfolio of top-tier cannabis operators,” Antony Radbod, COO of XS Financial, said. “NEA has established a strong foundation in Massachusetts and Michigan markets and we are excited to provide them with access to CAPEX and equipment financing. We look forward to supporting NEA with this lease facility through their next phase of growth.”