Business
Safe Harbor Originates $3 Million First Lien Secured Loan for Multi-tenant Cannabis Industrial Building in California
GOLDEN, Colo., Nov. 16, 2023 (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., Nov. 16, 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 facilitated the funding of a $3 million loan for a multi-tenant cannabis industrial building in California. Dan Roda, Executive Vice President & Chief Operating Officer of Safe Harbor Financial commented, \"We continue to see strong demand from across the cannabis industry for loans with competitive rates to support long-term growth. Our unique ability to service these businesses with market-competitive credit not only enhances Safe Harbor’s position as a leading credit originator to the cannabis industry, it also demonstrates the scale of our powerful fintech platform. We look forward to capitalizing on additional opportunities to achieve outsized risk-adjusted returns within the cannabis commercial real estate sector.” 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 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 $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 . 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 statements may include, but are not limited to, statements with respect to trends in the cannabis industry, including proposed changes in U.S and state laws, rules, regulations and guidance relating to Safe Harbor’s...