Sweet Leaf Madison Capital (SLMC), a nationwide provider of customized debt solutions for the middle-market cannabis industry, has announced it is providing Gold Leaf Florida LLC with financing for a major purchase of horticultural LED lighting through FOHSE, a world-class manufacturer of grow lights in the SLMC Preferred Vendor Program.
Gold Leaf is affiliated with Gold Leaf MD, a Maryland cannabis company that has successfully operated a dispensary and delivery service in Annapolis. Gold Leaf secured one of only 22 Medical Marijuana Treatment Center (MMTC) licenses in the state of Florida. These are granted to fully vertically integrated operations, and are highly valued owing both due to their scarcity and the significant economic potential of cannabis companies in Florida.
“Operating a successful company is difficult in the best of circumstances,” said Mark Seid, founder and Executive Vice President of Gold Leaf. “However, cannabis companies face many unique challenges. One of the biggest is how hard it can be to access financing for purchasing equipment, like lights. SLMC stepped in to help us when we needed it most, and FOHSE is one of the best light manufacturers in the industry. Our business relies upon great cultivation, and this financing helps ensure that we will have the best cultivation facilities in the state.”
“We’re excited to welcome Gold Leaf to the FOHSE family,” said Hershel Gerson, Chief Financial Officer at FOHSE. “When we joined forces with SLMC for this program, we did so with clients like Gold Leaf in mind. Their success is our success, and there’s no better feeling than knowing our positive impact on the trajectory of their cultivation.”
Gold Leaf was founded by three partners who have already built some of the most successful cultivation, manufacturing, and retail cannabis businesses in the country and who wanted to bring that expertise to Florida. They view the Sunshine State as the best and most underserved cannabis market in the country because it lacks high-quality cannabis, high-quality retail establishments, and knowledgeable, customer-service-oriented budtenders.
“The team at Gold Leaf is absolutely top-notch,” said Andrew Kaye, Chief Commercial Officer of SLMC. “They come with vast experience in the exciting new cannabis frontier, and it’s great to collaborate with FOHSE to provide their clients access to our services. We created the Preferred Vendor Program specifically to help businesses like Gold Leaf that have urgent equipment needs to manage their cash flows, but lack access to traditional financing. We cannot wait to see how Gold Leaf’s business in Florida grows.”