Most cannabis operators think they have a collections problem.
Brett Gelfand says they're wrong — and he should know. As the founder of CannaBIZ Collects, the first and leading cannabis collection agency, and the Cannabis Credit Association, cannabis' first credit bureau, Brett has seen firsthand what happens when operators extend terms without a credit process.
In this episode of Banking on Cannabis, host Terry Mendez, CEO of Safe Harbor Financial, sits down with Brett to unpack the real cost of irresponsible sales, why the chance of collection drops every single month you wait, and what a proper AR escalation strategy actually looks like — from mom-and-pop cultivators to large MSOs.
They also dig into the fraud risk triangle, why 56% of all cannabis invoices are reported past due, and how operators can start protecting their cash flow before the damage is done.
If you've ever chased a payment, extended terms on a handshake, or wondered how to separate your sales team from your collections process — this episode is essential listening.
Topics covered:
- Why extending net 30 terms means you're acting like a bank — whether you know it or not
- The real cost of waiting 6–12 months before escalating to collections
- How the Cannabis Credit Association's Best Payers Index flips the script on blacklists
- The fraud risk triangle: pressure, rationalization, and opportunity in cannabis
- Why 56% of all reported cannabis invoices are past due — and 23% are over 90 days
- How to separate sales and collections without losing customer relationships
- What $2.6 billion in accumulated data tells us about credit risk in this industry
About Banking on Cannabis Banking on Cannabis is the podcast for cannabis industry operators, executives, and financial professionals. Hosted by Terry Mendez, CEO of Safe Harbor Financial — the financial platform cannabis operators use to bank, borrow, operate, and grow.
