Safe Harbor Financial Originates Three New Loans To Cannabis Multi-State Operator

SHF Holdings, Inc., d/b/a/ Safe Harbor Financial SHFS has increased its lending and deposit relationship with a multi-state operator by originating three new loans for affiliates of the MSO in the aggregate amount of $4.3 million. The loans were secured by retail assets in three additional limited-license markets in which the MSO operates.

“Our ongoing relationship with this top-performing multi-state operator demonstrates the steady credit origination and placement activity were are continuing to secure for companies operating in the legal cannabis industry,” stated Sundie Seefried, CEO of Safe Harbor Financial. “These new loans further diversify our collateral portfolio, and afford us the opportunity to open deposit accounts for the MSO’s operating entities in three new markets.”

The company had previously announced in May that it had originated four commercial real estate-backed loans for subsidiaries of the MSO. The approximate amount for the loans was approximately $5.5 million aggregate and are secured by a first deed of trust on four retail dispensary locations in a key limited-license state.

The company also expanded relationship with the MSO in June through the origination of an additional first lien-secured loan in the approximate amount of $2.9 million on a cultivation facility located in a major adult-use cannabis market. The current loans are in accordance with the same lending commitment as previous loans provided to the MSO, offering the same terms including a fixed interest rate, five-year term and a 25-year amortization period–for permanent financing of the MSO’s critical assets.

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