Business
Safe Harbor Financial, Collective Clean Energy Fund and Partner Colorado Credit Union Collaborate to Fund $500,000 Sustainable Upgrade Loan for Denver Cannabis Facility
Innovative Loan Partnership Drives Energy Savings and Sustainable Operations in Colorado’s Cannabis Sector GOLDEN, Colo., Dec. 04, 2024 (GLOBE NEWSWIRE) --
About this update from Shf Holdings, Inc.
[{"type":"text","content":"Innovative Loan Partnership Drives Energy Savings and Sustainable Operations in Colorado’s Cannabis Sector\nGOLDEN, Colo., Dec. 04, 2024 (GLOBE NEWSWIRE) -- SHF Holdings, Inc., d/b/a Safe Harbor Financial (“Safe Harbor” or the “Company”) (NASDAQ: SHFS), a leading provider of financial services and credit facilities to the regulated cannabis industry, announced the closing of a $500,000 loan to PI 51st Avenue, LLC, a subsidiary of Pioneer Interests, Inc., d/b/a Natty Rems, LLC. This loan, offered under the Cannabis Resource Optimization Program (CROP) and facilitated through partnerships with the Collective Clean Energy Fund (CCEF) and Partner Colorado Credit Union (PCCU), will support energy-efficient upgrades at PI 51st Avenue’s cultivation and processing facility in Denver, Colorado. The loan proceeds will allow PI 51st Avenue to invest in energy-saving lighting and other essential equipment, advancing both operational efficiency and sustainability in its cannabis production. This unique collaboration leverages resources from CCEF, a nonprofit focused on clean energy financing, and PCCU, to offer competitive loan terms to PI 51st Avenue. Through a cash collateral arrangement and an interest rate buydown agreement provided by CCEF, the loan offers significantly reduced borrowing costs to PI 51st Avenue, underscoring Safe Harbor’s commitment to supporting sustainable practices within the cannabis industry. “Through partnerships like these, Safe Harbor Financial is leading the way in providing cannabis businesses with tailored financing solutions that promote both industry growth and sustainability,” said Safe Harbor Financial CEO Sundie Seefried. “Our collaboration with CCEF and PCCU exemplifies our ability to access resources from both nonprofit and financial institutions to offer cost-effective, environmentally conscious financing within the cannabis sector, setting a benchmark for responsible lending.” “Safe Harbor’s commitment to smart lending solutions is helping us take critical steps toward reducing our environmental footprint, while improving our operations,” said Matthew Shifrin, CEO of Pioneer Interests, Inc. “We’re proud to partner with an organization that is pioneering green financial solutions within the cannabis industry and setting a standard for responsible operations.” Paul Scharfenberger, CEO of Collective Cle...