Main Menu

Alaska Lab Forced to Close After Bank Calls in Loan on Building Citing Federal Law

Alaska Lab Forced to Close After Bank Calls in Loan on Building Citing Federal Law

TG Branfalt

Anchorage, Alaska’s Steep Hill has been forced to suspend operations after Wells Fargo bank called in the loan on the company’s building because they are a cannabis-related business. The closure leaves just two labs to test cannabis products for the entire state.

“We are sorry to announce that Steep Hill Alaska will be suspending cannabis testing operations on March 31, 2018. We have to relocate because Wells Fargo called in the loan on our building. They will foreclose if we do not move out — just because we are a cannabis business! We are looking for a new home and would be interested to hear of any potential locations. We are grateful to have served the Alaskan community for the past year. Thank you for all your support. We will be back.” – Steep Hill in a Thursday social media post

Alaska Lab Forced to Close After Bank Calls in Loan on Building Citing Federal Law






Comments are Closed