WeCanCapital.com

Groundbreaking Cannabis Working Capital

Groundbreaking Cannabis working capital for legal British Columbian cannabis producers and the financial industry, We Can Capital Inc (WCC) proudly announces its first beta test client, who has embraced a $250,000 CAD accounts receivable purchasing limit from our BC Credit Union funder.

This pioneering three-way collaboration marks a historic milestone, as no Credit Union or Bank has ventured into the realm of factoring programs for the cannabis industry.

The Beta client’s decision to leverage a factoring program with us to handle BC Liquor Distribution Branch (BCLDB) issued receivables demonstrates a significant shift in the financial landscape. Traditionally, accessing working capital for cannabis-related businesses has been a challenging endeavour due to regulatory complexities and the continued stigma associated with the industry. However, WCC’s strategic sales relationship with this Credit Union is poised to reshape the financing landscape for BC-based Licensed Producers (LPs).

What sets this collaboration apart is not only its unprecedented nature but also the ripple effect it promises to have on the industry. The factoring program designed for BCLDB-issued, soon-to-accept OCS and AGLC, receivables is a game-changer for BC LPs, offering them an exclusive, unique, and affordable solution for managing their working capital needs. This is particularly crucial given the stringent regulatory environment and the capital-intensive nature of the cannabis sector.

Moreover, WCC is thrilled to share that the relationship with this BC Credit Union extends beyond the first Beta client. The next pilot clients are currently in the onboarding process, signalling a growing demand for innovative financing solutions within the cannabis industry. These businesses recognize the advantages that come with partnering with a Credit Union willing to pioneer financial solutions tailored to their specific needs.

The relationship between all parties is not just about financial transactions; it’s about empowering BC LPs with a competitive edge. Unlike other provinces and regions where accessing affordable working capital for cannabis-related businesses remains a challenge, BC LPs now have a distinct advantage. By offering a factoring program for BCLDB-issued receivables, We can provide a cost-effective alternative to other accounts receivable financing companies funded by family offices, which often come with discount rates bordering on usury.

Beyond financial benefits…

this collaboration ensures stability for BC LPs with Credit Union member accounts. BC LPs and other members can transact with confidence, knowing that they are supported by a trusted and innovative financial institution. This stability is particularly crucial in an industry where regulatory changes and market dynamics can be unpredictable. This relationship also allows for seamless advances and settlements. No more annoying sweep accounts demanded by other factoring companies.

In summary,

We Can Capital’s groundbreaking cannabis working capital relationship marks a historic moment in the financial world. The factoring program for BCLDB-issued receivables not only addresses a longstanding need within the cannabis industry but also sets a precedent for Credit Unions and Banks to play a pivotal role in shaping the financial future of unconventional sectors like Cannabis. As WCC continues to onboard new clients, the ripple effect of this collaboration promises to redefine the landscape of affordable working capital for BC LPs, positioning them for sustainable growth and success.