LFTD Partners Inc. Closes Bank Loans and Building Purchase

JACKSONVILLE, FL / ACCESSWIRE / December 19, 2023 / LFTD Partners Inc. ("LIFD") (OTCQB:LIFD), today announced that on December 14, 2023, LIFD and its wholly owned subsidiary Lifted Made jointly borrowed a total of $3,910,000 from Surety Bank, DeLand, Florida, and Lifted Made closed on the purchase of its main operations building in Kenosha, WI for $1,375,000.

Surety Bank made two five-year loans to LIFD and Lifted Made, as joint borrowers: (1) a working capital loan of $3,000,000 at 9.5% annual interest, and (2) a $910,000 loan at 10% annual interest, the net proceeds of which were used by Lifted Made to pay a portion of the $1,375,000 purchase price of Lifted Made's main operations building located at 5511 95th Ave., Kenosha, WI 53144. The two loans are cross collateralized by a first lien mortgage on the Kenosha building, and by a first lien security interest in all of the other assets owned by LIFD and Lifted Made, in favor of Surety Bank.

William C. "Jake" Jacobs, President and CFO of LIFD, said, "Over the past two years, we were told by nearly all of the many potential lenders we met with, that LFTD Partners could expect a loan interest rate in the mid-teens. We disproved that narrative. These loans are for 9.5% and 10%, respectively, and do not require us to pay any financial advisory fees or issue any equity sweeteners. We are very happy to have Surety Bank behind our company going forward."

Nicholas S. Warrender, Vice Chairman and COO of LIFD, and founder and CEO of Lifted Made, said, "The 95th Ave. property that Lifted Made just purchased is a key part of our future growth plans. We have already hired an architect to design a 30,000 square foot addition to our main operations building, which if constructed will allow Lifted Made to bring in-house our receiving, gummy manufacturing, inventory storage, and shipping operations, that are currently being conducted by Lifted Made at four other leased locations in Kenosha and that require extra personnel, equipment, vans and other logistics. Putting all of our Kenosha operations under one roof should make our operations more efficient and profitable. And the millions of dollars of additional working capital provided by these loans from Surety Bank will allow Lifted Made to pursue growth opportunities earlier than was previously possible."