Green Check (GC), a fintech provider of financial service solutions and insights in the cannabis market, announced an exclusive partnership with CTrust, a cannabis industry credit rating and risk monitoring agency, and Coda Capital Advisors, a firm providing institutional debt capital to the cannabis industry. The partnership will provide banks and credit unions with new, data-driven transparency and insights to open up lending options for the cannabis industry.
Green Check, CTrust and Coda Capital Advisors will provide a platform for financial institutions to start lending to compliant cannabis-related businesses (CRBs) in as few as 60 days. Available to the more than 170 banks and credit unions on Green Check’s platform, the partnership incorporates Green Check’s vast industry data and lending policy guidance, CTrust’s risk-based pricing engine and industry-first credit rating, and Coda’s innovative loan participation program. The result is a tailored, full-spectrum and data-driven lending program that incorporates policy guidance, origination and underwriting, de-risking, servicing, monitoring and reporting.
Access to attractive debt capital remains a significant challenge for even the best CRBs. Many financial institutions have struggled to understand the relatively new cannabis industry and the limited credit data and industry-specific collateral considerations of CRBs. This lending reluctance has forced many CRBs to turn to expensive private lenders – until now. Through the power of this partnership, Green Check clients can lend at an industry-specific, risk-aligned premium that constitutes a much more favorable rate for CRBs than from alternative lenders.
