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Safe Harbor Extends New Line of Credit for Colorado Cannabis Operators

The company said the three new lines of credit were issued at normalized, non-predatory rates.

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Safe Harbor

Safe Harbor Financial, a provider of financial services and credit facilities to the regulated cannabis industry, announced today the formal launch of its new small business line of credit program with the origination of new loans totaling $550,000 to three Colorado-based operators which are long-standing clients of Safe Harbor.

“We’re pleased to be able to offer our longstanding clients access to lines of credit at reasonable terms, an opportunity that is often not readily available to cannabis businesses,” said Sundie Seefried, Chief Executive Officer of Safe Harbor Financial. “Over the past two years, we have recognized increasing demand from small and mid-sized cannabis businesses as they are largely ignored by traditional financial institutions – even those that are currently lending to larger cannabis operators. The launch of our Small Business Line of Credit Program underscores our commitment to supporting the capital needs of the entire cannabis ecosystem and further expands the suite of offerings available on our lending platform.”

The company said the three new lines of credit were issued at normalized, non-predatory rates, without real estate collateral, utilizing instead a flexible set of underwriting standards -- a key differentiator from many other available sources of cannabis industry financing. All three Colorado operators receiving funding are current clients of Safe Harbor.

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