XS Financial Closes Amended $70 Million Secured Credit Facility

LOS ANGELES, CA / ACCESSWIRE / June 5, 2024 / XS Financial Inc. (CSE:XSF)(OTCQB:XSHLF), a specialty finance company providing CAPEX and equipment financing solutions to cannabis companies in the United States, announced it has amended and upsized its current $54 million line of credit with Needham Bank to $70 million. All figures are in US Dollars.

Loans will bear interest at the Wall Street Journal Prime rate plus one percent when the advance rate is below 65%, and Prime rate plus one and a half percent when it is between 65% and 75%. The term extends to June 2027, and the facility may be prepaid without penalty.

David Kivitz, CEO of XS Financial, stated: "This Credit Facility provides XS Financial with additional resources to expand our portfolio of equipment leases. Our ability to close this facility with favorable terms in the current environment exhibits our financial strength and the high-quality customers we support." He emphasized the company's commitment to funding expansion projects for their borrowers.