Colorado cannabis operator secures $500K loan for environmental upgrades
- SHF Holdings provided PI 51st Avenue, a cannabis operator, with a $500,000 loan to invest in energy-saving lighting and equipment for operational efficiency and sustainability.
- The loan was made in partnership with the Collective Clean Energy Fund (CCEF) and Partner Colorado Credit Union (PCCU).
- The loan was offered under the Cannabis Resource Optimization Program through CCEF, a clean-energy financing nonprofit.
- The collaboration between CCEF and Partner Colorado Credit Union allowed for more competitive borrowing terms, including an interest-rate buydown, benefiting PI 51st Avenue in improving its environmental footprint and operations.
Colorado-based SHF Holdings supplied cannabis operator PI 51st Avenue with a $500,000 loan to invest in energy-saving lighting and other equipment to improve operational efficiency and sustainability.
SHF Holdings, which does business as Safe Harbor Financial, made the loan in partnership with the Collective Clean Energy Fund (CCEF) and Partner Colorado Credit Union (PCCU), according to a Wednesday news release.
Denver-based PI 51st Avenue, which does business as Natty Rems, was founded as a medical marijuana company in 2009 and produces cannabis flower, pre-rolls, concentrates, vape cartridges and infused gummies.
The loan was offered under the Cannabis Resource Optimization Program and facilitated through the CCEF, a clean-energy financing nonprofit, the release noted.
The alliance between CCEF and Partner Colorado Credit Union made it possible to offer more competitive borrowing terms and costs, including an interest-rate buydown.
“Our collaboration with CCEF and PCCU exemplifies our ability to access resources from both nonprofit and financial institutions to offer cost-effective, environmentally conscious financing within the cannabis sector,” Safe Harbor Financial CEO Sundie Seefried said in a statement.
PI 51st Avenue is a subsidiary of Pioneer Interests.
Matthew Shifrin, CEO of Pioneer Interests, said in a statement that the loan “is helping us take critical steps toward reducing our environmental footprint while improving our operations.”