X-Caliber Rural Capital, an affiliate of X-Caliber Holdings and a U.S. Department of Agriculture (USDA) licensed lender for rural business and economic development projects, has closed a $56 million bridge loan for a Hardee Fresh vertical farming facility in Americus, Ga.
The conventional (non-USDA) loan will be used for the new facility’s ground-up construction. The Hardee Fresh vertical farm facility in Americus will span nearly 340,000 square feet, include more than 50,000 internet-connected devices, produce more than 15 million heads of lettuce annually, along with a range of mixed salads, and will use only 1 percent of the water of traditional outdoor operations.
X-Caliber Rural Capital partnered with American Lending Center, an impact investor that seeks to create jobs in rural locations.
The new construction is expected to be complete by late 2024.
