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SHF Holdings Inc (SHFS) provides essential financial services for cannabis-related businesses, specializing in banking access and regulatory compliance solutions. This news hub offers investors and industry stakeholders timely updates on company developments within this complex sector.
Track official announcements including regulatory compliance updates, strategic banking partnerships, and financial service innovations tailored for cannabis operators. Our curated collection helps users monitor SHFS's progress in bridging traditional finance with emerging cannabis markets.
Key content includes earnings reports, compliance framework enhancements, risk management initiatives, and social equity program developments. All updates are sourced directly from company communications to ensure accuracy and timeliness.
Bookmark this page for centralized access to SHFS's evolving solutions addressing cannabis banking challenges, including FinCEN compliance strategies and financial inclusion efforts for underserved operators.
Safe Harbor Financial (NASDAQ: SHFS) and FundCanna have announced a strategic partnership through a mutual referral agreement to provide financial services and credit facilities to cannabis-related businesses (CRBs) across the United States. The collaboration aims to deliver accessible funding options and compliant banking services to cannabis operators facing limitations from traditional financial institutions.
Under the agreement, FundCanna-approved clients referred by Safe Harbor will deposit loan proceeds directly into Safe Harbor-managed bank accounts, ensuring regulatory compliance. The partnership enables both companies to cross-refer clients: Safe Harbor can introduce qualified clients to FundCanna for working capital and equipment financing, while FundCanna can refer clients to Safe Harbor for banking services.
This initiative comes as cannabis operators face cash constraints due to regulatory hurdles and access to traditional capital, offering an end-to-end solution for financing and banking needs.
Safe Harbor Financial (NASDAQ: SHFS) and Würk have announced an expanded strategic partnership to provide integrated financial services and workforce solutions to the cannabis industry. The partnership establishes a mutual referral program where Würk will introduce cannabis-related businesses to Safe Harbor's digital-first banking solutions, while Safe Harbor will refer clients to Würk's industry-specific HCM services.
The collaboration aims to address one of the cannabis industry's most significant challenges: access to reliable banking and workforce management solutions. According to the companies, as of 2023, 70% of cannabis businesses cited 'lack of access to banking or investment capital' as their primary challenge. The non-exclusive agreement allows both companies to maintain relationships with other industry partners while helping cannabis entrepreneurs secure fair banking rates and establish personal bank accounts with cannabis-friendly institutions.
Safe Harbor Financial (NASDAQ: SHFS) reported its Q4 and full-year 2024 results, showing mixed performance. Q4 2024 revenue was $3.7M, down from $4.5M in Q4 2023 but up 5% from Q3 2024. Loan Interest Income showed strong growth, increasing 82% year-over-year in Q4 and 123% for full-year 2024.
Full-year 2024 revenue was $15.2M, compared to $17.6M in 2023. The company maintained positive Adjusted EBITDA for three consecutive years, with $2.9M for 2024. Operating expenses decreased 42% to $22.3M in 2024. The company recorded a net loss of $48.3M, including $43.9M in non-cash valuation allowance and $9.1M in impairment charges.
Notable developments include the modification of the Partner Colorado Credit Union debt obligation, unlocking $6.4M in cash flow over two years, and reaching a milestone of processing over $25B in cannabis-related funds.
Safe Harbor Financial (NASDAQ: SHFS) has appointed Mike Regan as Head of Investor Relations and Data Science. Regan, who holds an MBA from MIT Sloan and a Bachelor's in Finance from Georgetown University, brings extensive experience from roles at Credit Suisse, Deutsche Bank, and hedge funds.
In his new position, Regan will focus on helping investors understand the company's growth initiatives while leading the development of new products utilizing Safe Harbor's databases. His recent experience includes founding Excelsior Equities, where he served as Director of Research focusing on cannabis equities since 2019.
The appointment aligns with Safe Harbor's growth strategies across their key programs: Safe Harbor Protects, Safe Harbor Lends, Safe Harbor Connects, and Safe Harbor Enables. The company continues to expand its position as a fintech leader providing financial services and credit facilities to the regulated cannabis industry.
Safe Harbor Financial (SHFS) announced significant developments in a shareholder letter from newly appointed CEO Terry Mendez. The company successfully negotiated a favorable debt modification with Partner Colorado Credit Union (PCCU), securing a two-year interest-only period that frees up over $6 million in cash and extends the due date to October 2030 at a 4.25% interest rate.
The fintech company, which has processed over $25 billion in cannabis-related funds through its partner bank network, is planning to transform from a specialized banking services provider into a comprehensive FinTech platform. The company's partner financial institutions have successfully passed over 16 federal or state regulator exams.
Safe Harbor will hold a Special Shareholder Meeting on March 13, 2025, to vote on a proposed reverse stock split aimed at maintaining Nasdaq listing compliance. The meeting will also detail the company's strategic vision under the new leadership.
Safe Harbor Financial (NASDAQ: SHFS) has successfully modified its debt agreement with Partner Colorado Credit Union (PCCU). The new terms include a two-year interest-only period for February and March 2025, which will unlock over $6 million in cash flow that would have been used for principal amortization. The Note will maintain its 4.25% interest rate and extends the due date to October 2030.
PCCU, one of Safe Harbor's largest shareholders, supports this modification to provide the company with enhanced financial flexibility for pursuing new opportunities. The agreement aims to strengthen Safe Harbor's position as a fintech leader in providing financial services to the regulated cannabis industry.
Safe Harbor Financial (NASDAQ: SHFS) has closed a $1.5 million secured credit facility for a Missouri cannabis operator, representing the second tranche of a $5 million loan funding package. This follows an initial tranche of $1.07 million originated on October 29, 2024. The funding aims to refinance high-interest senior debt across four retail dispensaries in Missouri.
The company structured the financing package with competitive market interest rates and favorable loan terms, enabling cannabis businesses to manage debt more efficiently. This transaction demonstrates Safe Harbor's commitment to providing bank-quality lending solutions specifically tailored for cannabis operators, while building a strong and diversified credit portfolio for investors.
Safe Harbor Financial (SHFS) has announced a temporary pause in principal payments for February and March 2025 on its Senior Secured Promissory Note with Partner Colorado Credit Union (PCCU). The agreement comes as both parties engage in discussions about potentially modifying the Note terms.
The temporary pause is expected to improve Safe Harbor's liquidity by approximately $510,000. While the company is working to finalize a modification within the two-month period, there is no guarantee an agreement will be reached.
The fintech company, which facilitates financial services and credit facilities to the regulated cannabis industry, views this Letter Agreement as PCCU's commitment to support their plans for scaling and expanding service offerings.
Safe Harbor Financial (NASDAQ: SHFS) announced a CEO succession plan where current CEO Sundie Seefried will retire in 30 days. The company has appointed Terry Mendez as co-CEO under a three-year executive employment agreement, who will become CEO upon Seefried's retirement.
During the 30-day transition period, both will serve as co-CEOs, with Mendez focusing on innovation and growth opportunities while Seefried ensures operational continuity. After the transition, Seefried will remain on the Board of Directors.
Terry Mendez brings significant experience in strategic planning and operational transformation, particularly in IT and cannabis industries. He previously founded Amos Advisory Solutions, led cannabis operations, and served as VP of Finance and global chief accounting officer at Hitachi Vantara, overseeing operations in 52 countries.
Safe Harbor Financial (NASDAQ: SHFS) has achieved a significant milestone by processing over $25 billion in cannabis-related funds through its partner bank network, coinciding with its 10th anniversary. Founded in 2015, the company has established itself as a pioneer in providing secure and compliant financial services for the regulated cannabis industry.
The company currently serves clients across nearly 40 states and US territories, offering comprehensive financial solutions designed specifically for cannabis businesses. CEO Sundie Seefried emphasized their founding mission of enhancing community safety through stable and compliant banking services for legal cannabis companies.
Safe Harbor's achievement demonstrates its strategic focus on scaling operations and expanding services while maintaining industry compliance standards. The milestone has been endorsed by industry players, including Mint Cannabis CEO Eivan Shahara, who highlighted Safe Harbor's important role in providing access to critical financial services while ensuring regulatory compliance.
