How To Sell Invoices as a Cannabis Business

Every business relies on cash flow to cover bills and expenses. The problem many companies face is a mismatch between their incoming and outgoing cash. For instance, if your business relies on a few large clients, a single late invoice can significantly affect your ability to pay other partners. Many cannabis businesses choose to sell invoices to maintain their cash flow.

When you sell invoices, you work with a financing company to receive payment for an invoice before a client actually sends the funds. The financing company gives you a percentage of the capital from the invoice in advance. When the client finally pays the invoice, they pay the financer, who passes on the remaining funds to you minus a small interest payment 

Selling invoices is a great way to reduce problems with your cash flow. Keep reading to learn how selling invoices can help your business and how to sell invoices the right way. 

Benefits of Selling Invoices

Selling invoices allows you to access funds quickly and efficiently, without long delays or application processes. Some of the most significant benefits of the process include:

  • Accessing capital without long payment cycles. You may give your customers as long as 90 days to pay an invoice. While this is excellent for your clients, it can put a strain on your business. Selling invoices gives you access to that capital significantly faster without having to pursue your clients or change your contracts.
  • Covering unexpected expenses. Even if your budget is designed for your current payment cycle, unexpected expenses can still crop up. If you need to repair critical equipment or replace ruined stock, you can sell invoices to cover these expenses without risking late payments on other bills.
  • Capitalizing on investment opportunities. You can have unexpected opportunities, too. If you have the chance to stock up on popular products at deep discounts, you can sell invoices to access the funds to make the investment.

How To Sell Invoices as a Cannabis Business

As a cannabis company, you need to choose the right partner to sell invoices successfully. You can work with Bespoke Financial to sell your invoices and receive the funds you need when you need them. The process is simple:

  • Ship products to your client, issue an invoice, then request financing from Bespoke.
  • Bespoke approves up to a 75% advance on the invoice and distributes the funds directly to your bank account within 24 hours.
  • Use the funds for whatever you need; keep them for up to 120 days.
  • When the client finally pays the invoice, they will deliver it in full to Bespoke. 
  • Bespoke deposits the remaining 25% minus accrued interest to your bank account. 

It’s a hassle-free process from start to finish.

Access Critical Funds by Selling Invoices with Bespoke Financial 

Your company’s budget shouldn’t be held hostage by clients who are slow to pay. You can access invoice funds in advance by selling them to Bespoke Financial. You can learn more about how to sell invoices or apply to Bespoke today to stop worrying about unexpected bills or missed opportunities. 

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