Business
Safe Harbor Financial Originates $6.7 Million First-Lien Secured Loan for Global Real Estate Investment Firm
- Successfully underwrites complex transaction for unique California-based property containing numerous cannabis businesses - - Market-leading terms reflect
About this update from Shf Holdings, Inc.
[{"type":"text","content":"- Successfully underwrites complex transaction for unique California-based property containing numerous cannabis businesses - - Market-leading terms reflect Safe Harbor Financial’s continued normalization of cannabis financial services - GOLDEN, Colo., June 15, 2023 (GLOBE NEWSWIRE) -- SHF Holdings, Inc. (“Safe Harbor Financial” or the “Company”) (NASDAQ: SHFS), a leader in facilitating banking, payments, and financial services to the regulated cannabis industry, today announced that it has originated a $6,695,000 loan for a global real estate investment firm. With a market-leading interest rate, amortization, and repayment schedule, the loan is secured by a first lien on a Class A multitenant cannabis industrial property located in Oakland, California. “The origination of this loan will generate fee and interest revenue for Safe Harbor Financial while further advancing the Company toward our quarterly and annual credit issuance goals,” said Sundie Seefried, Chief Executive Officer at Safe Harbor Financial. “I am proud of the team for successfully underwriting this loan, which involves a prominent and sophisticated borrower and a property with over a dozen separate cannabis businesses, each of which had to be evaluated in connection with both a credit and Bank Secrecy Act compliance analysis. While our deep compliance expertise provides for greater risk arbitrage, our position in the marketplace as the bridge between cannabis and finance continues to provide us with access to superior credit opportunities.” About Safe HarborSafe Harbor Financial 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 approximately 1000 cannabis-related relationships, Safe Harbor Financial, 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 Financial has facilitated more than $18 billion in deposit transactions for businesses with operations...