SHF Holdings, d/b/a Safe Harbor Financial, a fintech company in facilitating financial services and credit facilities to the regulated cannabis industry, entered into a letter agreement with Partner Colorado Credit Union (PCCU) related to its senior secured promissory note, whereby PCCU has agreed to temporarily pause receipt of principal payments due in February and March 2025, while the parties engage in discussions regarding a potential modification of the note. The company is working towards finalizing a modification within the two-month period, although there is no assurance that an agreement will be reached.
“This letter agreement represents PCCUs commitment to work with us as we develop new solutions to capitalize on, scale and expand our service offerings,” Terry Mendez, co-CEO of Safe Harbor Financial, said. “PCCU’s willingness to engage in these discussions reflects our longstanding relationship. The temporary pause in principal payments is expected to improve our liquidity by approximately $510,000.”
