EXCLUSIVE: Colorado Cannabis Gets A Boost As 3 Operators Land $550K In Credit Lines
SHF Holdings, Inc., doing business as Safe Harbor Financial (NASDAQ:SHFS) — a facilitator of financial services and credit solutions for the cannabis industry — confirmed the formal launch of its new small business line of credit program to long-standing clients on Wednesday.
What Happened: The program’s launch includes the origination of three new lines of credit totaling $550,000 for Colorado businesses. The company didn’t disclose which three operators were first to obtain credit.
“We’re pleased to be able to offer our longstanding clients access to lines of credit at reasonable terms, an opportunity that is often not readily available to cannabis businesses,” stated Sundie Seefried, chief executive officer of Safe Harbor Financial.
“Over the past two years, we have recognized increasing demand from small and mid-sized cannabis businesses as they are largely ignored by traditional financial institutions – even those that are …