First Citizens Bank Provides $1 Million Line of Credit to MC Nutraceuticals
Summary
RALEIGH, N.C., March 5, 2024 /PRNewswire/ -- First Citizens Bank today announced that its Cannabis Banking business provided a $1 million working capital line of credit to MC Nutraceuticals, one of the largest global suppliers of hemp-derived cannabinoids.Founded in 2019, MC Nutraceuticals uses ecommerce to distribute 42 hemp-derived products to a diverse client base across the U.S. and internationally. Their product line includes Delta 8, CBD, CBG, CBC, CBN, THCv and other hemp derivatives. "We enjoyed working with First Citizens Bank for their expertise and knowledge throughout the financing process," said Bret Worley, CEO of MC Nutraceuticals. "This line of credit provides additional flexibility to execute on our strategic goals during a period of significant growth for our business. Headquartered in Raleigh, N.C., First Citizens has built a unique legacy of strength, stability and long-term thinking that has spanned generations.