The controlling parent company of five currently-active hydroponic commercial greenhouse facilities, in conjunction with an entity that was formed to hold the institutional investment interest, initially developed and self-constructed three (3) hydroponic commercial greenhouse facilities. The subject of this request and the two other production greenhouses and testing facility are owned equally by The Company and the Investors in accordance with management and investor development strategies. As the initial three greenhouses completed development and scaled-up operations, reliance on outside investment decreased. As a result, the two additional greenhouses that are under construction are owned 100% by The Company. The subject financing will be used to refinance existing debt with a balloon payment, finance capital expenditures that will be used to add a new product line (retrofit the tomato production area of the greenhouse to supply a higher margin, leafy-green product), provide working capital to scale up the new leafy green product line, and pay associated loan closing costs and fees. A summary of the five (5) greenhouse facilities owned and to-be-developed follows below with an asterisk notating the loan for this participation:

· *Subject of this request / Production Greenhouse –IL | Formed March, 2014

· Production Greenhouse –OH | Formed October, 2016 (future USDA B&I request – debt refi)

· Production Greenhouse –VA | Formed May, 2013 (future USDA B&I request – debt refi)

· Proof of concept – testing facility) –PA | Formed in March, 2012

To-date, two (2) additional production greenhouses are under development / construction as follows:

· Production greenhouse –PA | Formed September, 2018 (future USDA B&I request – debt refi)

· Production greenhouse –NC | Formation Pending. (future USDA B&I request – New Construction)

Over the last seven (7) years, management of The Company has set out to develop a locally-grown solution to target higher-income, price-insensitive shoppers that are health and environmentally focused. The Company’s products use up to 80% less water, 90% less land and 95% less fuel when compared with long-distance supply chain producers. The Company’s products are also grown pesticide free and are non-GMO verified.

Loan ID 0105
DSCR 1.39
LTV 67.74
Note Rate 6.25
Property Location IL
NAICS 111219
Guaranty Type USDA
Loan Term 26 yrs
Rate type Var
Participation Availability Amount $ 325,000
Minimum Participation Amount $ 250,000
Original Loan Amount $ 7,750,000
Full Loan Documentation Link
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