Safe Harbor Financial announced on December 4, 2024, the closing of a $500,000 loan to PI 51st Avenue, LLC, a subsidiary of Pioneer Interests, Inc., d/b/a Natty Rems, LLC. This loan, offered under the Cannabis Resource Optimization Program (CROP), will support energy-efficient upgrades at the company's cultivation and processing facility in Denver, Colorado.
The financing was facilitated through partnerships with the Collective Clean Energy Fund (CCEF) and Partner Colorado Credit Union (PCCU). This collaboration leverages resources from a nonprofit and a financial institution to offer competitive loan terms, including significantly reduced borrowing costs for PI 51st Avenue.
Safe Harbor Financial CEO Sundie Seefried stated that this partnership exemplifies the company's ability to access diverse resources to offer cost-effective, environmentally conscious financing within the cannabis sector. The initiative aims to help cannabis businesses reduce energy expenses, which represent nearly 33% of operating costs for Colorado cannabis growers.
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