Story Cannabis Co. Expands in Ohio with $15 Million Loan

Story Cannabis Co. is expanding its presence in Ohio after securing a $15 million loan from Advanced Flower Capital Inc. (AFC). The funding will help the company open and develop more dispensaries across the state, strengthening its retail operations in the growing adult-use cannabis market.

A Strong Financial Backing

The loan agreement, announced on February 18, 2025, is a first-lien term loan, meaning it is backed by Story of Ohio’s assets, including cannabis licenses and real estate in Ohio and Georgia. AFC, a Florida-based real estate investment trust (REIT), specializes in financing cannabis businesses that comply with state laws. This partnership reflects AFC’s confidence in Story’s ability to expand successfully.

Daniel Neville, AFC’s CEO, praised Story Cannabis Co., calling it “one of the top private multi-state cannabis operators” and highlighting its leadership’s ability to navigate the challenges of the industry.

Growth Plans for Ohio

Story Cannabis Co., headquartered in Phoenix, Arizona, already operates in multiple states, including Maryland and New Jersey. With Ohio’s cannabis market growing rapidly, the company sees an opportunity to expand its retail footprint. The loan will help Story acquire and build new dispensaries, making cannabis products more accessible to Ohio customers.

CEO Jason Vedadi emphasized the importance of the deal, saying it would help the company take advantage of key opportunities and continue its growth.

A Booming Market

Ohio’s cannabis industry has seen impressive growth, with sales surpassing $319 million in the first six months of legalization. The state’s market has attracted multiple cannabis companies, increasing competition and providing more choices for consumers.

Story Cannabis Co. is positioning itself to meet the growing demand by expanding its presence. The company’s strategy focuses on responsible growth while following state regulations.

A Promising Future

The $15 million loan not only provides Story with capital to expand but also reflects the growing relationship between financial firms and cannabis companies. AFC’s investment in Story shows confidence in the company’s leadership and the Ohio market’s potential.

As the cannabis industry continues to evolve, financial partnerships like this are expected to increase, allowing companies to scale operations while maintaining regulatory compliance.

By securing this funding, Story Cannabis Co. is taking a major step toward becoming a key player in Ohio’s cannabis market, setting the stage for future success in the industry.