GOLDEN, CO (March 4, 2025) |
SHF Holdings, Inc., d/b/a Safe Harbor Financial (“Safe Harbor” or the “Company”) (Nasdaq: SHFS), a fintech leader in facilitating financial services and credit facilities to the regulated cannabis industry, is pleased to announce that it has successfully negotiated a favorable debt (the “Note”) modification with Partner Colorado Credit Union (“PCCU”). The agreement includes a two-year interest-only period, covering February and March 2025, the two months previously granted. These modified terms are expected to unlock more than $6 million in cash that would have otherwise been allocated to principal amortization over the next two years. The Note will maintain its 4.25% interest rate throughout the remainder of the term.
Doug Fagan, President and CEO of Partner Colorado Credit Union stated: “As one of the largest shareholders, we realize that Safe Harbors’ success contributes to the success of our members. We expect this debt modification will provide Safe Harbor with the financial flexibility needed to pursue new opportunities. This agreement underscores our commitment to supporting Safe Harbor’s long-term success and stability.”
“Not only does the note modification significantly enhance our financial standing, I can confidently say that it also provides Safe Harbor with tremendous optionality as we enter this new chapter. The new agreement with PCCU provides us with flexibility to pursue additional opportunities to enhance and expand our service offering and reinforces our commitment to delivering long-term value to all stakeholders. The modification of the Note signifies a pivotal moment for Safe Harbor Financial,” stated Terry Mendez, CEO of Safe Harbor Financial.