Marijuana Banking Innovator Exits $3.1M Loan, Collects Over $200K In Accrued Interest
SHF Holdings, Inc., doing business as Safe Harbor Financial (NASDAQ:SHFS) — a facilitator of financial services and credit solutions for the cannabis industry, has successfully exited a $3.1 million loan that was previously in default.
In addition to the full repayment of the principal, Safe Harbor received $202,175 in accrued interest, all of which will be reallocated into its lending and credit line capacity, Benzinga exclusively learned.
“Safe Harbor has established a strong lending program that meets the financial requirements of our clients while generating appropriate risk-adjusted loan interest income for the business,” stated Dan Roda, executive vice president and chief operating officer of Safe Harbor Financial.
“The strength of our program is our underwriting criteria, which has resulted in only one …