Safe Harbor Financial announced on February 12, 2025, the closing of a $1,500,000 secured credit facility for a Missouri-based cannabis operator. This transaction constitutes the second tranche of a $5,000,000 loan funding package, which aims to refinance existing senior debt across four retail dispensaries in Missouri.
The initial tranche of $1.07 million for this package was originated on October 29, 2024. John Foley, Senior Vice President of Commercial Lending at Safe Harbor Financial, stated that the company is dedicated to supporting cannabis operators with robust and compliant financial solutions at competitive market interest rates.
This credit facility underscores Safe Harbor's commitment to delivering favorable loan terms, enabling cannabis businesses to manage debt efficiently and focus on growth. The transaction reinforces the company's mission to expand access to capital for cannabis businesses, an industry historically facing significant banking and lending challenges.
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