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 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 Harbor
Safe 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 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 proposed changes in U.S and state laws, rules, regulations and guidance relating to the Company’s services; the Company’s growth prospects and the Company’s market size; the Company’s projected financial and operational performance, including relative to its competitors; whether similar loans, or loans at similar rates would be offered in the future; new product and service offerings the Company may introduce in the future; the impact of recent volatility in the capital markets, which may adversely affect the price of the Company's securities; the outcome of any legal proceedings that may be instituted against the Company; other statements regarding the Company’s expectations, hopes, beliefs, intentions or strategies regarding the future; and the other risk factors discussed in the Company’s filings from time to time with the Securities and Exchange Commission. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words "anticipate," "believe," "continue," "could," "estimate," "expect," "intends," "outlook," "may," "might," "plan," "possible," "potential," "predict," "project," "should," "would," and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. These forward-looking statements involve a number of risks and uncertainties (some of which are beyond the control of the Company), and other assumptions, that may cause the actual results or performance to be materially different from those expressed or implied by these forward-looking statements.
Contact Information
Safe Harbor Media |
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Safe Harbor Investor Relations |
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