Needham Bank Closes Cannabis Loan to Bostica, LLC

Bostica will use the financing to complete the construction of their 60,000-square-foot cannabis cultivation and manufacturing facility in Lynn, Massachusetts. Needham Bank also provided working capital to support Bostica’s operations.

Needham Bank Closes $24MM Credit Line with XS Financial

XS Financial Inc., a specialty finance company providing CAPEX and equipment financing solutions to cannabis companies in the United States, announced it has entered into a new $24 million line of credit (Credit Facility) with Needham Bank committing $20 million and acting as the administrative agent.