Safe Harbor Financial, also known as SHF Holdings, Inc., is expanding its partnership with Würk, a leader in Human Capital Management (HCM) for the cannabis industry. This collaboration aims to create a mutual referral program that combines their expertise in financial services and workforce solutions to help cannabis businesses secure the banking rates and financial support they need to succeed.
As the cannabis industry grows and faces increasing regulatory challenges, these integrated services will provide essential support for businesses trying to navigate compliance while scaling operations. Under this new agreement, Würk will refer cannabis-related businesses to Safe Harbor’s digital banking solutions, while Safe Harbor will direct clients towards Würk’s specialized HCM services. This partnership allows both companies flexibility in serving a diverse range of clients in the cannabis sector.
Safe Harbor and Würk are focused on addressing the significant issue of access to reliable banking solutions for cannabis enterprises. By connecting workforce management with financial services, they aim to assist cannabis professionals in establishing personal bank accounts with institutions that recognize and support the industry. This partnership intends to tackle both financial and operational challenges that restrict growth and competitiveness in the market.
Deborah Saneman, CEO of Würk, highlighted that as recently as 2023, 70% of cannabis businesses identified a lack of access to banking and investment capital as their top challenge. She stated that this partnership with Safe Harbor allows them to connect clients with crucial resources necessary for success. Saneman emphasized that both companies are not only addressing a pain point but are also working towards long-term stability and growth in the cannabis sector.
Terry Mendez, CEO of Safe Harbor Financial, echoed this sentiment, noting that the partnership represents a commitment to overcoming one of the cannabis industry’s most persistent challenges: access to financial services. He described the collaboration as a way to help businesses reduce costs while addressing the essential needs of workforce management and capital access, ultimately creating pathways for cannabis operators to grow confidently and compliantly.
Safe Harbor Financial has been a key player in providing financial services tailored to the cannabis industry for over a decade. They have supported hundreds of clients in navigating complex regulations at both state and federal levels, solidifying their role as a crucial resource for cannabis businesses seeking financial stability and growth.
The launch of this mutual referral program marks an important step in enhancing support for the cannabis industry, aligning both Safe Harbor and Würk’s missions to empower cannabis entrepreneurs with the resources they need to thrive.
