AFC

AFC BDC, operating as Advanced Flower Capital Inc., is a business development company headquartered in West Palm Beach, Florida. Originally founded as a commercial mortgage REIT specializing in cannabis industry lending, the company completed a strategic conversion to a business development company structure in January 2026, regulated under the Inv... estment Company Act of 1940. This conversion broadened the company's investment mandate beyond real estate-backed loans to encompass a wider universe of lower middle market businesses across multiple industries. AFC primarily originates, structures, underwrites, and manages direct senior debt investments across its portfolio. The company retains deep expertise in the cannabis sector, continuing to serve licensed cannabis operators in states where medical and adult-use cannabis is legal, as well as ancillary cannabis businesses such as brand developers and equipment providers. AFC is externally managed by AFC Management LLC and seeks to maximize risk-adjusted returns through an opportunistic credit approach, leveraging a management team with extensive direct lending experience across multiple decades and a broad range of completed direct lending transactions.Read More