Business
Safe Harbor Financial Originates $9 Million First Lien Secured Loan for Major, MSO-Operated Cultivation Facility in Denver, Colorado
GOLDEN, Colo., Jan. 04, 2024 (GLOBE NEWSWIRE) -- SHF Holdings, Inc., d/b/a/ Safe Harbor Financial (“Safe Harbor” or the “Company”) (NASDAQ: SHFS), a leader in
About this update from Shf Holdings, Inc.
[{"type":"text","content":"GOLDEN, Colo., Jan. 04, 2024 (GLOBE NEWSWIRE) -- SHF Holdings, Inc., d/b/a/ Safe Harbor Financial (“Safe Harbor” or the “Company”) (NASDAQ: SHFS), a leader in facilitating banking, payments, and financial services to the regulated cannabis industry, announced today that it originated a $9 million loan to fund the refinancing of a major Colorado cultivation facility in Denver, Colorado. The $9 million loan, which will refinance existing debt, is being funded by Safe Harbor and its partner financial institutions at market-competitive rates and terms for permanent financing. Dan Roda, Executive Vice President & Chief Operating Officer at Safe Harbor, stated, “This new, sizable loan speaks directly to Safe Harbor’s increasing loan placement activity and the role the Company continues to play in supporting the growth of leading cannabis MSOs around the country. As we further build our loan book by originating and participating in today’s market-leading deals and opportunities, this growing revenue channel, composed of origination fees and interest income, continues to drive a new level of financial growth for Safe Harbor.” 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 approximately 1,000 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 $20 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. Forward-Looking Statements Certain statements contained in this press release constitute \"forward-looking statements'' within the meaning of federal securities laws. Forward-looking statements may include, but are not limited to, statements with respect to trends in the cannabis industry, including...