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Safe Harbor Financial Enters Letter Agreement with Partner Colorado Credit Union Regarding Senior Secured Promissory Note

Feb 03, 2025•over 1 year ago

Contract Type

agreement

Health Care

Description

Safe Harbor Financial has announced that it has entered into a Letter Agreement with Partner Colorado Credit Union (PCCU) to temporarily pause receipt of principal payments due in February and March 2025, while the parties engage in discussions regarding a potential modification of the Note.

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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