Accounts receivable crisis is widespread: Credit bureau
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Fewer than half of cannabis invoices are up to date on their payments, according to a company trying to bring mainstream credit standards to the industry.
The Cannabis Credit Association (CCA) says only about 43% of industry invoices are up to date on their payments, based on $2B worth of payment behavior it has from legal states. "It's an Incredible window into the industry's systemic problems," executive director Mike Blumenthal said.
Of the October invoices CCA has seen, Blumenthal says more than 24% were more than 91 . . .
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