Many times, due to the nature of your relationship and past dealings with a customer, you think you have very little risk associated with letting them pay you next week.
But what happens if they don’t?
Earlier this year, in an effort to connect with the owners of cannabis related businesses, I was put in touch with a medium-sized grower in Colorado. We had a great conversation about the industry, about the future of credit, and about how he currently is getting paid by his customers. He told me that he had more than 150 active accounts, and that he was providing credit to about 30 percent of them, extending 3-14 day terms as well as taking checks for COD orders (which is also a form of credit).
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