XS Financial Inc., a specialty finance company providing scalable equipment leasing solutions to cannabis companies in the United States, announced it has entered into a lease agreement with Maggie's Farm LLC, a vertically integrated, single-state operator (SSO) based in Colorado. Maggie's was founded in 2010 and has been operating in the legal Colorado market, serving both recreational and medical customers. Maggie's is the first Colorado cannabis operator to receive Clean Green Certification and operates seven dispensaries across the state.

Maggie's Farm has been approved for an equipment lease of $344,150 for new equipment on 48-month terms. This equipment acquisition will help further automate Maggie's manufacturing and processing facilities in Colorado. XS Financial worked with its preferred vendor, ActionPac Automation, to provide point of sale purchasing for Maggie's Farms.

David Kivitz, CEO of XS Financial, said, "We are excited to work with a tenured business, like Maggie's Farm. Maggie's has grown consistently over the past eight years in the mature Colorado market, and this lease will allow them to further automate their business and serve their customer base in their well-located retail stores across Southern Colorado. We look forward to supporting Maggie's through this lease and future opportunities."

Tim Sell, Chief Financial Officer of Maggie's Farm, added, "In the restricted world of cannabis financing, XS Financial provides a financing solution that will enable us to accelerate our plans to achieve greater operational efficiency. We look forward to an ongoing partnership with XS as we scale our business."

For more information on XS Financial, which changed its name from Xtraction Services, see Equipment Finance Advisor’s interview with Kenneth Senter.