Safe Harbor Financial Originates $4.6 Million Secured Credit Facility for Michigan Cannabis Operator

Safe Harbor’s Total Loan Book to Exceed $60 million

GOLDEN, Colo., March 12, 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 $4.6 million credit facility for a Michigan cannabis operator secured by a four-dispensary real estate portfolio. Structured with a market-leading rate and terms, the credit facility will allow the vertically integrated operator to expand its cultivation and retail operations in the Great Lake State.

With this new credit facility, Safe Harbor’s total loan book will exceed $60 million in outstanding loans and commitments, showcasing the rapid growth of its robust and highly diversified loan portfolio, which is comprised of 25 cannabis real estate assets across 10 states covering every segment of the cannabis value chain.

“Our ability to support emerging cannabis operators across the country with competitive rates and structures demonstrates the significant role Safe Harbor continues to play in supporting the unique and evolving financial needs of cannabis operators,” said Safe Harbor Financial Chief Operating Officer and Executive Vice President, Dan Roda. “In just over a year, we have increased our loan book from just under $20 million to over $60 million, successfully creating a powerful new customer acquisition tool and revenue channel for Safe Harbor. By increasing our high margin loan origination activity, not only have we diversified and introduced new revenue streams to the business, we have become less dependent on our deposit-related fees. As we advance more opportunities to serve our existing and new clients with our expanding credit product portfolio, we are strategically positioned to further scale our business with new lending-related revenue.”

About Safe Harbor
Safe 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. 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 $21 billion in deposit transactions for businesses with operations spanning over 41 states and US territories with regulated cannabis markets. For more information, visit www.shfinancial.org.