Community Savings and We Can Capital Reach a New Milestone
Community Savings, a long-standing British Columbia credit union, and We Can Capital Inc. have hit a notable milestone for the regulated cannabis sector: more than $5.3 million in working capital distributed to licensed producers. It’s a clear signal that practical, reliable financing is possible for cannabis businesses, and that both organizations are committed to making day-to-day cash flow easier to manage for producers who’ve often been left waiting.
The Realities Cannabis Producers Face
Licensed producers routinely run into walls when they try to use traditional banking tools—delays in collections, limited credit options, and processes that don’t match how they sell and get paid. The joint program from Community Savings and We Can Capital is built to address that gap directly. It helps licensed producers in British Columbia get paid faster on invoices tied to purchases from government buyers such as the BC Liquor Distribution Branch and similar boards, closing the lag between delivery and payment.
How the Cannabis Accounts Receivable Purchasing Program Works
The program uses a straightforward accounts receivable purchasing model. After a licensed producer delivers product and issues an invoice, they don’t have to wait for government payment cycles that can run 14 to 60 days. Instead, they can sell that invoice to Community Savings. On that same day, the credit union advances 75–82.5% of the invoice value, turning a paper promise into usable cash and giving producers immediate liquidity when they need it most.
Why Faster Cash Flow Matters
Early access to cash changes the tempo of operations. Producers can keep production moving, lock in better terms with their suppliers, and plan with more certainty, which shows up in their margins. Just as important, they avoid the extra costs and friction that come with traditional financing paths that aren’t built around government payment schedules.
Higher Limits Point to Momentum
As more producers opt in, Community Savings has increased its purchasing limit from $500,000 to $750,000 for existing partners such as Woody Nelson, a cannabis producer based in Nelson, British Columbia. That higher ceiling gives producers room to expand product lines, meet demand that’s already in the pipeline, and do it with the confidence that comes from dependable liquidity and a stronger balance sheet.
What Producers Are Saying
Toby Summers, Director of Woody Nelson Inc., put it plainly: “The liquidity from Community Savings has provided us with the necessary inventory to bolster growth, leading to our first quarter of positive EBITDA.” Access to cash at the right moment supports inventory, fuels growth, and helps turn consistent sales into sustainable results.
Built on Fair Access to Banking
Mike Schilling, President and CEO of Community Savings, has emphasized the credit union’s stance: cannabis businesses should have access to the same kinds of financial products that other Canadian industries rely on. Strong uptake since launch backs that up, showing that when the product fits the reality on the ground, producers move quickly.
Partnerships That Move the Needle
Joshua Reynolds, Partnership Director at We Can Capital, noted the impact of backing companies like Woody Nelson and the ripple effects of putting funds to work instantly. That collaboration—producers doing what they do best, and financing that aligns with how they get paid—helps shore up the financial backbone of the cannabis industry.
How Cannabis Producers Can Connect
Licensed producers who want to stabilize cash flow or scale operations can reach out for details on eligibility, pricing, and process. Community Savings and We Can Capital offer direct support through their official websites and by phone, so you can get clear answers and move quickly.
About Community Savings Credit Union
Community Savings Credit Union exists to bring working people into a fairer financial system. As the largest unionized credit union in British Columbia, it serves both personal and business members and has developed solutions that address the specific needs of licensed cannabis producers.
About We Can Capital
We Can Capital focuses on working capital for cannabis businesses, with invoice-based financing designed for steady, durable growth. Its goal is straightforward: partner closely with cannabis firms to support day-to-day stability and long-term momentum.
Frequently Asked Questions
What impact does this program have on licensed cannabis producers?
It turns slow, predictable invoice payments into fast, usable cash. By selling invoices, producers can smooth cash flow, keep production on schedule, and support growth plans without waiting weeks for government payments.
How does the accounts receivable purchasing model operate in this case?
After delivering product and issuing an invoice, a licensed producer sells that invoice to Community Savings. Instead of waiting 14–60 days, they receive a same-day advance of 75–82.5% of the invoice amount, with the program designed to provide immediate liquidity.
Why is traditional financing often difficult for cannabis businesses to access?
Producers frequently face barriers within conventional banking—limited access and restrictive approaches that don’t reflect the way regulated cannabis sales are paid. This program is structured to work with those realities rather than against them.
What are the practical benefits of early payment?
Faster cash helps producers move quickly on procurement and production, negotiate stronger supplier terms, and cut costs tied to ill-fitting financing, which can translate to better margins and more predictable operations.
How can a licensed producer get started with this program?
Reach out directly to Community Savings or We Can Capital to discuss eligibility, limits, and timing. They can walk you through the process and next steps so you can put the program to work without delay.
