GOLDEN, Colo., July 25, 2024 (GLOBE NEWSWIRE) — SHF Holdings, Inc., d/b/a/ Safe Harbor Financial (“Safe Harbor” or the “Company”) ( NASDAQ: SHFS), a leader in providing banking, payments, and financial services to the regulated cannabis industry, announced a new partnership with BIPOCann, a Denver-based consulting firm dedicated to aiding social equity and minority entrepreneurs in the cannabis sector.
Under this partnership, BIPOCann will offer its full suite of membership benefits, valued at $600, to all of Safe Harbor’s existing social equity clients at no additional cost. Additionally, BIPOCann members will receive a 75% discount on application fees for financial services, complementing Safe Harbor’s existing social equity discount program.
To further support minority-owned businesses, Safe Harbor is launching a new webinar series focused on social equity and small operators across the country. The first session – Navigating Social Equity in Cannabis with BIPOCann & Safe Harbor Financial: Cannabis Banking Solutions – will take place on Wednesday, August 21, 2024, featuring participation from BIPOCann representatives and members. This monthly series aims to provide valuable insights and resources on rescheduling, legal, lending and capital topics, to help these businesses overcome barriers and accelerate growth. Register for the webinar here.
“For years, access to reliable banking services has been one of the biggest challenges for small businesses in the cannabis industry,” said BIPOCann Founder and CEO Ernest Toney. “I’m excited for BIPOCann’s partnership with Safe Harbor to mitigate that challenge for social equity entrepreneurs and business owners across the country. This partnership strengthens our collective abilities to serve social equity operators with financial resources and tools that empower business development and growth.”
Sundie Seefried, CEO of Safe Harbor, added: “We’re excited to team up with BIPOCann to help create an inclusive, equitable cannabis industry. By combining our expertise and resources, we aim to provide these businesses with the financial support and tools they need to thrive. This collaboration not only reinforces our dedication to social equity but also sets a benchmark for the industry, demonstrating how targeted support can drive meaningful change.”
This partnership highlights Safe Harbor’s commitment to supporting the development and growth of minority-owned small businesses and entrepreneurs from underserved communities. By providing these businesses with access to reliable financial services and resources, Safe Harbor and BIPOCann aim to create a more inclusive and equitable cannabis industry.
About BIPOCann
BIPOCann is a Denver-based consulting firm that helps social equity and minority entrepreneurs and business owners navigate entry and growth in the cannabis industry. Through its partnership programs, membership network, and technical assistance offerings, BIPOCann helps clients access relevant connections and resources to improve business operations. BIPOCann was a 2023 finalist for Advocacy Group of the Year at the EMJAYS International Cannabis Awards. For more information, visit www.bipocann.com.
About Safe Harbor
Safe Harbor is among the first service providers to offer compliance, monitoring and validation services to financial institutions, providing traditional banking services to cannabis, hemp, CBD, and ancillary operators, making communities safer, driving growth in local economies, and fostering long-term partnerships. Safe Harbor, through its financial institution clients, implements high standards of accountability, transparency, monitoring, reporting and risk mitigation measures while meeting Bank Secrecy Act obligations in line with FinCEN guidance on cannabis-related businesses. Over the past nine years, Safe Harbor has facilitated more than $21 billion in deposit transactions for businesses with operations spanning over 41 states and US territories with regulated cannabis markets. For more information, visit www.shfinancial.org.
Forward-Looking Statements
Certain statements contained in this press release constitute “forward-looking statements” within the meaning of federal securities laws. Forward-looking statements may include, but are not limited to, statements with respect to trends in the cannabis industry, including proposed changes in U.S. and state laws, rules, regulations and guidance relating to Safe Harbor’s services; Safe Harbor’s growth prospects and Safe Harbor’s market size; Safe Harbor’s projected financial and operational performance, including relative to its competitors and loan performance; new product and service offerings Safe Harbor may introduce in the future; the impact of recent volatility in the capital markets, which may adversely affect the price of the Company’s securities; Safe Harbor’s ability to make the same or similar loans in the future; the outcome of any legal proceedings that may be instituted against Safe Harbor; other statements regarding Safe Harbor’s expectations, hopes, beliefs, intentions or strategies regarding the future; and the other risk factors discussed in Safe Harbor’s filings from time to time with the Securities and Exchange Commission. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intends,” “outlook,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “would,” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject, are subject to risks and uncertainties. These forward-looking statements involve a number of risks and uncertainties (some of which are beyond the control of Safe Harbor), and other assumptions, that may cause the actual results or performance to be materially different from those expressed or implied by these forward-looking statements.
Media Contact Information
Safe Harbor Media
Ellen Mellody
570-209-2947
safeharbor@kcsa.com
Investor Relations Contact Information
Safe Harbor Investor Relations
ir@SHFinancial.org
KCSA Strategic Communications
Phil Carlson
safeharbor@kcsa.com
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