Cannabis industry finance company SHF Holdings, doing business as Safe Harbor Financial, has eliminated $1.2 million of indemnity liability through a four-year extension and modification of its agreement with Partner Colorado Credit Union.
The eradicated indemnity liability, which was on the company’s balance sheet as of Sept. 30, went into effect Jan. 1, 2025, according to a Tuesday news release.
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Colorado-based Safe Harbor will continue to facilitate loans for its clients with Partner Colorado Credit Union (PCCU) and will no longer be required to record a loan loss reserve on its income statement, the release noted.
“The modified agreement with PCCU represents a positive and pivotal development for Safe Harbor,” Safe Harbor CEO Sundie Seefried said in a statement.
Seefried said the
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