Why do Cannabis Companies need a Personal Guarantee?

In any business venture, especially in the fiercely competitive cannabis industry, it's too easy to get into a tight financial situation that strains the cash flow of the company. A major problem is when cannabis companies extend credit terms to their customers, without proper credit checks or guarantees against the credit given. What is a personal guarantee? Why do you need a personal guarantee when making a deal on trade credit in the USA within the cannabis industry?

CannaBIZ Collects is your one-stop solution for all your cannabis credit and collection concerns. We are uniquely qualified to resolve all collection issues in the cannabis industry. With over 35 years of collection industry experience, CannaBIZ Collects is the first and leading cannabis collection agency.

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Why charge your customers interest for late payment in the cannabis industry?