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Safe Harbor Financial originates $1.07 million secured credit facility for Missouri cannabis operator

Oct 29, 2024over 1 year ago

Contract Type

contract

Health Care

Description

Safe Harbor Financial has originated a $1.07 million secured credit facility for a Missouri-based cannabis operator, marking the first tranche of a $5 million commitment to refinance existing senior debt. The facility, secured by a portfolio including four retail dispensaries and a manufacturing facility in Missouri, aims to reduce the operator's borrowing costs and enable them to optimize their operations within the state’s growing cannabis market. Safe Harbor's competitive financing solutions provide underserved cannabis operators with access to bank-quality financial services, fostering growth in the cannabis sector.

Company Information

Company

Safe Harbor

About

Safe Harbor is one of the first service providers to offer reliable access to banking solutions for cannabis, hemp, CBD, and ancillary operators, making communities safer, driving growth in local economies, and fostering long-term partnerships. Safe Harbor, through its partners, serves the regulated cannabis industry and implements the highest standard of accountability, transparency, monitoring, reporting, and risk mitigation measures while meeting BSA obligations in line with FinCEN guidance on CRBs. Over the past seven years, Safe Harbor (including its predecessor) has assisted with the placement of over $12 billion in deposit transactions for customers with operations spanning 20 states with regulated cannabis markets. For more information, visit www.shfinancial.org.

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