Safe Harbor originates $1.17M first lien secured loan for CT property acquistion

SHF Holdings, Inc., d/b/a/ Safe Harbor Financial originated a $1.17M loan for the acquisition and construction of a new adult-use cannabis retail store in Bridgeport, Connecticut. The store will be operating under the Higher Collective brand, a Connecticut-based social equity joint venture, whose mission is to create an inclusive and equitable cannabis industry. Safe Harbor, together with its partner financial institutions, funded $1.17M in new debt at market-competitive terms that include a flexible structure that allows interest-only payments during the construction period. The debt is secured by a first lien on the property in Bridgeport, with the loan proceeds being used to renovate and modernize the property for use as an adult-use cannabis retail store. Higher Collective currently has four other adult-use cannabis retail stores across Connecticut, including Hartford, Killingly, Willington, and New London.