Borrower proposes to build, own, and operate an automated hydroponic greenhouse in Colorado. They will be constructing the 2.6 acre greenhouse and a 0.9 acre warehouse/office which will grow leafy greens to be sold within the regional market. The project looks to develop climate controlled agriculture, using hydroponics and automation. The automation is manufactured by an automation company that has extensive experience in greenhouse agriculture. The greenhouse itself is a package which includes: lights, controls, air flow, CO2 addition, cooling, heating, and exhaust from a greenhouse company. The company is a Colorado-based business that has been manufacturing greenhouses since 1967. The Project Sponsor and the project team are well qualified, experienced and motivated to achieve the project goals. The Project Sponsor will be contributing at least $5,200,000 in capital to ensure the long term success of the project.

Loan ID 0108
DSCR 2.57
LTV 75.00
Note Rate 5.75
Property Location CO
NAICS 551112
Guaranty Type USDA
Loan Term 20 yrs
Rate type Var
Participation Availability Amount $ 6,825,000
Minimum Participation Amount $ 250,000
Original Loan Amount $ 19,500,000
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