SHF Holdings Inc., dba Safe Harbor Financial (Nasdaq: SHFS), has successfully modified its debt agreement with Partner Colorado Credit Union.
The new agreement includes a two-year interest-only period, extending to February and March 2025, which was previously granted. This modification is expected to free up over $6 million in cash otherwise allocated to principal amortization during the next two years. The Note will retain a 4.25% interest rate for the remaining term.
Doug Fagan, resident and CEO of Partner Colorado Credit Union said, “As one of the largest shareholders, we realize that Safe Harbor’s success contributes to the success of our members. We expect this debt modification will provide Safe Harbor with the financial flexibility needed to pursue new opportunities. This agreement underscores our commitment to supporting Safe Harbor’s long-term success and stability.”
Terry Mendez, CEO of Golden-based Safe Harbor Financial, stated, “Not only does the note modification significantly enhance our financial standing, I can confidently say that it also provides Safe Harbor with tremendous optionality as we enter this new chapter. The new agreement with PCCU provides us with flexibility to pursue additional opportunities to enhance and expand our service offering and reinforces our commitment to delivering long-term value to all stakeholders.”
