Funny that this annoncement should happen so soon after announcing Sundie Seefriedn is to “Step Down” ,
If they made these announcements all the time I wouldn’t pay so much attention but is is the first time i can remember that they announced they’ve had to re-finance with another financial institution
Here’s our Safe Harbor search results page
Here’s Seefried standing down
Safe Harbor CEO Sundie Seefried To Step Down In 30 Days… No Sucessor Decided As Yet
and then only a few days later this
Safe Harbor Financial Announces Temporary Pause in Principal Payments and Ongoing Discussions to Modify Promissory Note with PCCU
PCCU Modifies Credit Facility with Safe Harbor by Pausing Principal Payments for Two Months as New Terms are Considered; Safe Harbor Intends to Commence Making Growth Investments Immediately
GOLDEN, Colo., Feb. 3, 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, announced today that it has entered into a Letter Agreement with Partner Colorado Credit Union (“PCCU”) related to its Senior Secured Promissory Note (the “Note”), whereby PCCU has agreed 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. The Company is working towards finalizing a modification within the two-month period, although there is no assurance that an agreement will be reached.
“This Letter Agreement represents PCCUs commitment to work with us as we develop new solutions to capitalize on, scale and expand our service offerings,” said Terry Mendez, co-CEO of Safe Harbor Financial. “PCCU’s willingness to engage in these discussions reflects our longstanding relationship. The temporary pause in principal payments is expected to improve our liquidity by approximately $510,000.”
