Massachusetts-based, Nova Farms, a cannabis producer recently received a loan facility of $20 million led by Chicago Atlantic.
This loan facility helps Nova Farms to cultivate more products.
MA-based Nova Farms Received $20M Loan
CEO of Nova Farms, Derek Ross said that the loan will help us to expand our presence in more states including Connecticut & New Jersey.
Nova Farm is a key cannabis producer in Massachusetts. The company owned 5 service dispensaries and 7 brand outlets. Nova Farms started with farming licenses only but currently, Nova Farms has adult-use retail brand outlets in Woodbury, Massachusetts, Maine, Greenville, etc.
Moreover, CEO Derek confirmed that after the funds have been issued they are planning to open a new retail outlet in late 2024.
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