Urban-Gro Secures $2.1 Million Loan from Grow Hill LLC
Urban-Gro Inc. has secured a $2.1 million asset-based term loan from Grow Hill LLC, which includes a $100,000 origination fee. However, Grow Hill has filed a lawsuit against Urban-Gro, alleging breach of contract and fraud due to missed payments, leading to the acceleration of the loan's repayment. Urban-Gro is currently evaluating its options and intends to defend against the fraud claims.
Urban-Gro Inc. previously entered into an asset-based term loan agreement with Grow Hill, LLC, under which the lender extended a secured loan of $2.1 million to the company, with an additional $100,000 origination fee added to the loan amount. The loan is evidenced by a secured promissory note and is backed by certain assets of Urban-Gro Inc., excluding its subsidiaries’ assets. Recently, Grow Hill, LLC filed a lawsuit against Urban-Gro Inc., alleging breach of contract and fraud, claiming that the company defaulted by failing to make timely payments. As a result, the lender has accelerated all amounts due under the note, including a default fee of 1% of the outstanding principal. Urban-Gro Inc. is currently reviewing its options to resolve the matter and plans to defend itself against the fraud allegation. Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Urban-Gro Inc. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001213900-25-100408), on October 20, 2025, and is solely responsible for the information contained therein. © Copyright 2025 - Public Technologies (PUBT) Original Document: here
