Safe Harbor Financial Launches New Line of Credit Products for Cannabis Businesses
19 Settembre 2023 - 2:05PM
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 the launch of its 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 which 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,” said 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.”
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.
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
more than 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
StatementsCertain 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
services; Safe Harbor's growth prospects and Safe Harbor's market
size; Safe Harbor's projected financial and operational
performance, including relative to its competitors; Safe Harbor’s
ability to offer similar products in the future or maintain current
products; 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
Safe Harbor; other statements regarding Safe Harbor's expectations,
hopes, beliefs, intentions or strategies regarding the future; and
the other risk factors discussed in Safe Harbor'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, 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 Safe
Harbor), 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.
Safe Harbor MediaNick Callaio,
Marketing Manager720.951.0619Nick@SHFinancial.org |
|
Safe Harbor Investor
Relationsir@SHFinancial.org |
|
KCSA Strategic CommunicationsPhil
Carlsonsafeharbor@kcsa.com |
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