CapitalNow Cannabis expands purchasing power to $20M
CALGARY, AB and VANCOUVER, BC, July 8, 2021 /CNW/ - CapitalNow Cannabis* proud and first cannabis member of the International Factoring Association (IFA) expands purchasing power of Business-to-Business (B2B) invoices to $20M. "The demand for CNC's working capital in the Canadian cannabis industry has grown rapidly. This additional capacity will benefit our current and future clients." Joshua Reynolds, President - CapitalNow Cannabis
COVID-19 government relief programs are coming to an end, CRA is again looking closely into excise tax arrears, Workers Compensation premiums and annual Health Canada renewals are of constant concern. Meanwhile, Mergers & Acquisitions activity is in full swing as buyers look for complimentary, diverse or distressed deals. These normal business operations all require working capital.
Capital Now Cannabis specializes in situations that occur in each stage of a business, including start-up, hockey stick growth and turn-around, and we operate in all provinces, including Quebec. CapitalNow Cannabis provides urgently needed, bespoke, supply-chain financing programs to Canadian cannabis companies. Hard-working businesses in the emerging cannabis space have struggled with working capital since the emergence of this sector, as traditional lenders and institutions have mostly turned their backs on this industry. We will help start-ups with first orders, established operators with unexpected or accelerated growth, and any clients waiting on SR&ED (Scientific Research and Experimental Development) tax credits.
*About CapitalNow Cannabis:
CapitalNow Cannabis is an alternative finance company focused on the emerging Canadian cannabis supply chain. We provide responsive cash flow solutions to licensed operators in need of working capital to maintain and grow operations. For more information, please visit www.capitalnowcannabis.com.
*About the International Factoring Association:
Headquartered in Avila Beach, California, with over 450 corporate members, the International Factoring Association is the largest commercial finance company association. Members include factoring companies, asset-based lenders and other receivables finance companies. Since 1999, the International Factoring Association has provided a forum for member organizations to meet and discuss issues and concerns, share best practices, disseminate information and promote a single voice to the marketplace. The principal spokesperson for the factoring and receivables finance industry is the International Factoring Association's Bert Goldberg. For more information, visit www.factoring.org.
SOURCE CapitalNow Cannabis
For media, inquiries contact Joshua Reynolds, President, at [email protected] or 1-800-789-9611.
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