SHF Holdings (SHFS) announced the closing of a $500,000 loan to PI 51st Avenue, a subsidiary of Pioneer Interests, Inc., d/b/a Natty Rems. This loan, offered under the Cannabis Resource Optimization Program and facilitated through partnerships with the Collective Clean Energy Fund and Partner Colorado Credit Union, will support energy-efficient upgrades at PI 51st Avenue’s cultivation and processing facility in Denver, Colorado. The loan proceeds will allow PI 51st Avenue to invest in energy-saving lighting and other essential equipment, advancing both operational efficiency and sustainability in its cannabis production. This unique collaboration leverages resources from CCEF, a nonprofit focused on clean energy financing, and PCCU, to offer competitive loan terms to PI 51st Avenue. Through a cash collateral arrangement and an interest rate buydown agreement provided by CCEF, the loan offers significantly reduced borrowing costs to PI 51st Avenue, underscoring Safe Harbor’s commitment to supporting sustainable practices within the cannabis industry.
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