You produced the product.
They said they needed terms — “as soon as it sells, we’ll pay.”
But the days kept going by… and nothing came in.

In cannabis, collections are brutally difficult. With limited banking and tight cash flow, cash is king. So how do you know who’s trustworthy? Who’s a repeat offender? And where do you even go to collect?

Sadly, this scenario is far too common — and it’s crushing the industry.

This week we sit down with Brett Gelfand, founder of CannaBIZ Collects and the Cannabis Credit Association, to explore:

How to protect your business before extending net terms
What to do when customers ghost you on payment
How big of an issue is this, really?

Guest Links:

Chapters

00:00 Introduction to the Cannabis Industry Challenges

03:09 Brett Gelfand's Journey into Cannabis

05:59 The Importance of Credit Policies in Cannabis

09:11 Proactive Approaches to Collections

12:12 Building a Credit Association for Cannabis

14:47 Data Aggregation and Industry Insights

18:01 Navigating Legal and Ethical Challenges

20:52 Market Trends and Future Outlook

24:30 Understanding the Cannabis Industry's Financial Challenges

32:03 Navigating the Debt Collection Process

39:00 The Unique Aspects of Cannabis Collections

43:53 The Current State of Cannabis Debt and Collections

Spanners got the RACE START TIME WRONG (also interesting interview with new friend)