Business
Safe Harbor Financial Originates $3 Million First Lien Secured Loan for a Leading THC-infused Beverage Company
New Credit Facility Supports the Beverage Company’s Expansion into California GOLDEN, Colo., Sept. 14, 2023 (GLOBE NEWSWIRE) -- SHF Holdings, Inc., d/b/a/
About this update from Shf Holdings, Inc.
[{"type":"text","content":"New Credit Facility Supports the Beverage Company’s Expansion into California\nGOLDEN, Colo., Sept. 14, 2023 (GLOBE NEWSWIRE) -- SHF Holdings, Inc., d/b/a/ Safe Harbor Financial (“Safe Harbor” or the “Company”) (NASDAQ: SHFS), a leader in facilitating financial services and credit facilities to the regulated cannabis industry, today announced that it has originated a $3 million loan for a Washington-based organic, THC-infused beverage company to support its expansion into the California market. Dan Roda, Executive Vice President & Chief Operating Officer of Safe Harbor Financial commented, \"This credit facility, secured by a first lien on the beverage company’s state-of-the-art bottling plant in Washington, demonstrates Safe Harbor’s critical role in supporting the expansion of leading cannabis operators and brands across the country. These companies are continuing to experience strong growth as demand for innovative cannabis products, especially as demand within novel categories such as infused food and beverage, continues to grow. At Safe Harbor, we take pride in our ability to facilitate this growth, and, armed with our industry-leading suite of credit products, we are uniquely situated to support it.” About Safe HarborSafe Harbor is among the first service providers to offer compliance, monitoring and validation services to financial institutions, providing traditional banking services to cannabis, hemp, CBD, and ancillary operators, making communities safer, driving growth in local economies, and fostering long-term partnerships. Currently managing more than 1000 cannabis-related relationships, Safe Harbor, through its financial institution clients, implements high standards of accountability, transparency, monitoring, reporting and risk mitigation measures while meeting Bank Secrecy Act obligations in line with FinCEN guidance on cannabis-related businesses. Over the past eight years, Safe Harbor has facilitated more than $18 billion in deposit transactions for businesses with operations spanning over 40 states and US territories with regulated cannabis markets. For more information, visit www.shfinancial.org. Cautionary Statement Regarding Forward-Looking Statements Certain statements contained in this press release constitute \"forward-looking statements'' within the meaning of federal securities laws. Forward-looking s...