Marijuana industry finance company SHF Holdings, doing business as Safe Harbor Financial, is seeking to modify its financial agreement with Partner Colorado Credit Union.
Under its agreement with the credit union, Safe Harbor will “temporarily pause” principal payments in February and March related to a senior secured promissory note as the parties negotiate a new deal, according to a Monday news release.
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“The temporary pause in principal payments is expected to improve our liquidity by approximately $510,000,” Terry Mendez, co-CEO of Safe Harbor, said in a statement.
Mendez is slated to become sole CEO after the retirement of Sundie Seefried, an industry pioneer in cannabis safe banking.
Colorado-based Safe Harbor eliminated $1.2 million of indemnity liability in January through a four-year extension
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