Cannabis Industry Finance Company SHF Holdings, Safe Harbor Financial, Modifies Debt Agreement with Partner Colorado Credit Union

Colorado-based SHF Holdings, known as Safe Harbor Financial, has announced a debt modification agreement with Partner Colorado Credit Union, according to a Tuesday news release. The adjustment includes a two-year interest-only period for February and March 2025, which is expected to free up more than $6 million that would have otherwise gone toward principal amortization.

Safe Harbor’s Debt Note to Maintain 4.25% Interest Rate for the Remainder of the Term

The financial adjustment will allow Safe Harbor to retain its existing 4.25% interest rate while benefiting from increased liquidity. This move aligns with the company’s strategic initiatives aimed at optimizing financial performance and creating new business opportunities.

CEO Terry Mendez Highlights Enhanced Financial Standing and Growth Opportunities

Terry Mendez, CEO of Safe Harbor, expressed confidence in the debt restructuring, emphasizing its role in strengthening the company’s financial position. “Not only does the note modification significantly enhance our financial standing, but I can confidently say that it also provides Safe Harbor with tremendous optionality as we enter this new chapter,” Mendez said in a statement.

Mendez, who assumed leadership after Sundie Seefried’s retirement, underscored that the new agreement with Partner Colorado Credit Union offers Safe Harbor the flexibility to explore expansion and reinforce its commitment to delivering long-term value to stakeholders.

Partner Colorado Credit Union Sees Safe Harbor’s Success as Beneficial to Its Members

Doug Fagan, CEO of Partner Colorado Credit Union, also commented on the significance of the modification.

By providing Safe Harbor with greater financial flexibility, Partner Colorado Credit Union aims to support the company’s continued growth and ability to seize new market opportunities within the cannabis finance industry.