Capital · Loan program

Construction and working capital. Both interest-free.

Most cannabis retail capital doesn't fail on the underwriting. It fails on the structure. PCA replaces the stitching-together of four or five sources with one capital relationship, interest-free.

Why cannabis capital is hard

The standard failure modes.

Traditional lenders won't take a license as collateral. Equipment vendors want cash up front. Sponsor equity wants a board seat and a say in operations.

First-time operators end up stitching together four or five sources, each with its own terms, its own reporting, and its own idea of what happens if timelines slip.

What PCA provides

Two loans, one relationship, interest-free.

The fee

One fee. All four service categories.

10%of gross revenue

A single fee covers real estate, financing, regulatory & business, and financial & business strategy. No separate line items, no upfront cost. Build-out, working capital, and loss-reserve financing are interest-free loans on top. The fee scales with revenue, so a slow start costs you less rather than more.

Gross revenue is defined in the advisory agreement. We walk through the calculation on the first call.

What you carry vs. what PCA carries

	Yours	PCA's
License	You own it, always	Never holds or collateralizes it
Head lease	—	PCA signs and carries it
Property taxes	—	PCA pays them
Buildout cost	Repaid interest-free	Financed by PCA
Working capital / loss reserve	Repaid interest-free	Extended by PCA as needed
Brand & equity	Entirely yours	—
Day-to-day operations	You run the store	Advisory alongside you

Alignment

Maintain equity. Downside protection. Aligned incentives.

Maintain equity. No fixed up-front costs. Your capital stays yours.

Downside protection. The fee scales with revenue, so a slow start costs you less rather than more. And the loss reserve is there to draw on if the ramp takes longer than you planned, which is the point of holding one.

Aligned incentives. PCA carries the lease, the property taxes, and interest-free loans on collateral that never includes your license. That's real risk on PCA's side, which is what makes the alignment real.

Structure

How it's structured, mechanically.

Draws fund the buildout in phases as construction milestones hit. Repayment on the construction loan runs between months seven and eighteen after opening, so there is a real runway before anything is due. Working capital is not repaid on that schedule at all: it comes back at the end of the lease term. Statements go out on a fixed monthly cadence.

Financing terms, stated plainly. Construction loans are sized to the build and typically total $100,000 to $200,000 per store, repaid between months 7 and 18 after opening, with no interest. The working capital and loss reserve loan typically totals under $25,000, is drawn as needed, and is repaid at the end of the lease term, with no interest. Both are made to the operating business under a written loan agreement, and neither is secured on the license. This page describes the program; it is not an offer of credit. The terms for any store are set out in its agreement.

This is what an integrated capital relationship looks like in practice.

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