Loan & DebtApr 24, 2026, 05:01 PM
urban-gro Defaults on Loan, Enters Forbearance; Loan Jumps to $2.8M
AI Summary
urban-gro, Inc. and its subsidiary entered into a Forbearance Agreement and an Exchange Agreement with Hudson Global Ventures, LLC after defaulting on approximately $1.94 million in loan obligations. Hudson, which acquired the loan from Grow Hill LLC, agreed to forbear from exercising its rights until April 30, 2026, provided the company complies with the agreement. In exchange for forbearance, the loan's principal balance was increased to $2.8 million, incorporating a forbearance fee, and the company agreed to pay associated fees and expenses.
Key Highlights
- urban-gro defaulted on approximately $1.94 million in loan obligations as of April 10, 2026.
- Hudson Global Ventures, LLC acquired the loan documents from Grow Hill LLC.
- Hudson agreed to a forbearance period until April 30, 2026, or until certain termination events.
- The principal balance of the loan was increased to $2,800,000, including a forbearance fee.