AFC Gamma, Inc. (“AFC Gamma”) (Nasdaq: AFCG), a commercial real estate finance company that provides loans to operators in the cannabis industry, today announced certain business updates relating to its quarter ended September 30, 2021.
Funding Update
Our cannabis expertise and market reputation has allowed us to evaluate a wide universe of potential investment opportunities with attractive risk adjusted returns. Advancing its position as a leading cannabis lender, AFC Gamma is pleased to report that for the quarter ended September 30, 2021, the company’s gross funding was $89.3 million and its net funding, taking into account loan repayments and amortization, was $79.3 million. AFC Gamma closed on total new commitments of $119.2 million during the quarter.
For the nine months ended September 30, 2021, the company’s gross funding was $176.7 million and its net funding, taking into account loan repayments and amortization, was $154.7 million. AFC Gamma closed on total new commitments of $214.0 million during the nine months ended September 30, 2021.
