SHF Holdings, Inc., doing business as Safe Harbor Financial SHFS, a facilitator of financial services and credit solutions for the cannabis industry is launching a new portfolio of line of credit products available to cannabis businesses nationwide.
The company’s new line of credit offering expands its growing suite of deposit and credit tools to serve a greater number of cannabis enterprises, including those that have previously faced difficulty obtaining debt financing at reasonable terms. Under these new and expanded programs, Safe Harbor, operating jointly with its financial institution partners, will offer credit facilities ranging from $25,000 to $1 million at market-leading, normalized rates. In many cases, these lines of credit can be obtained without hard collateral.
“This line of credit program further advances our mission of normalizing banking for the cannabis industry and creates a key opportunity to serve many businesses whose growth has been stalled by the inability to obtain credit at reasonable terms elsewhere,” stated Dan Roda, executive vice president & chief operating officer at Safe Harbor. “Our continued efforts to create an expansive suite of financial solutions for the cannabis industry is more important now than ever in light of the continued progress of cannabis banking and scheduling reform and heightened momentum for the industry’s near-term growth.”
Safe Harbor’s CEO Sundie Seefried will be one of many featured speakers at one of the biggest cannabis conferences in the world next week - the Benzinga Cannabis Capital Conference in Chicago. She’ll likely discuss the new portfolio, and share more information about the company’s plans. To meet her and many other industry veterans in person, get your tickets today before prices increase and secure a spot at the epicenter of cannabis investment and branding.
The introduction of these products follows Safe Harbor’s launch of interest-bearing commercial accounts announced in July of this year. Through the company’s expanding array of deposit and credit offerings offered through its partner financial institutions, Safe Harbor is furthering its position as a key partner for cannabis companies and brands, while supporting its own continued growth through the creation of new revenue channels.
Price Action
Safe Harbor shares were trading 5.27% higher at $0.82 per share during Monday’s pre-market session.
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