Green Check Verified announced on Wednesday that is has entered into an exclusive partnership with CTrust, the cannabis industry's first credit rating and risk monitoring agency and Coda Capital Advisors, a company that provides institutional debt capital to the cannabis industry.
The new partnership will provide a platform for financial institutions to start lending to compliant cannabis-related businesses (CRBs) in as few as 60 days. Green Check is a cannabis-focused provider of financial service solutions and insights.
The collaboration incorporates Green Check's industry data and lending policy guidance, CTrust's risk-based pricing engine and credit rating and Coda's innovative loan participation program.
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The new arrangement is available to over 170 banks and credit unions on Green Check's platform. The lending program incorporates policy guidance, origination and underwriting, de-risking, servicing, monitoring and reporting.
"We add transparency and clarity in cannabis lending using our risk-based pricing engine to align rate expectations," said Dotan Y. Melech, founder and CEO of CTrust.
Kevin Hart, founder and CEO of Green Check and a regular participant at the Benzinga Cannabis Capital Conference, praised the move. "This partnership with CTrust and Coda will expand our ability to create impactful, mutually beneficial opportunities for our financial institution and CRB clients, furthering our mission to democratize business and financial services for the cannabis industry."
Brendan Fay, chief investment officer at Coda Capital Advisors, agrees. "There is a unique and timely opportunity for first movers to create a robust participation market for high-quality credit, supported by the strongest cannabis operators in the country. With nearly limitless demand, those who act quickly can position themselves at the forefront of this rapidly growing sector."
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