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Common Questions

If you have any further questions feel free to get in touch. Call (888) 273-1850 or email info@try-alta.com
Who qualifies as a lender?
Cannabis-friendly, U.S.-based lenders with at least $5M in assets under management. Lenders must be active in the cannabis industry and currently seeking new projects to finance. Alta lenders must have their own balance sheet capital to invest; brokers or debt consultants are not permitted to use the site. Lenders must also pass a KYC and AML check.
What is the lender verification process?
An Alta administrator must ensure every lender meets the basic requirements above. This includes providing basic company information, like the lender’s legal entity name and EIN, as well as proof of funds through recent bank statements, tax returns, or a letter from your bank. This process can be done digitally, where the lender provides all requested information by uploading documents to our secure platform. If you prefer to be verified directly by an Alta admin, we can schedule a lender verification meeting instead. Verification times take 48 hours after all information has been provided.
Why does Alta use tokens?
Since borrowers are providing detailed information about their business’s operational and financial history, Alta is extremely careful to protect the borrower’s sensitive information. Every lender is given a certain number of tokens each month, and those tokens are used to “unlock” projects to reveal the borrower’s identity and the project’s full details. This ensures that lenders are only using tokens on projects they are genuinely interested in, rather than looking at every single project just to get as much information as possible. Lenders can purchase additional tokens as needed to continue unlocking relevant projects.
How does Alta get paid?
Alta charges a service fee for every project that is successfully financed through the platform. This service fee is included in the borrower’s use of proceeds for each financing, and is paid to Alta simultaneously with close, when the lender releases funds to the borrower. Each lender will have a dedicated account rep to help facilitate the transfer of funds with each Alta closing.
“I received offers from lenders in Chicago, New York, and Seattle without having to leave my living room.
I accepted a $1M loan to build out my second dispensary location and I couldn’t be happier.”
PERSON’S NAME
Owner of CANNABIS COMPANY