Spotlight Series: William Schreier, Principal and COO of KreditForce
The CannaBusiness Advisory Spotlight Series features expert perspectives from Burns & Levinson clients and contacts who are blazing new trails in the cannabis market.
This week we spotlight William Schreier, Principal and COO of KreditForce.
From your corner of the cannabis industry, what’s the single greatest challenge?
Like many emerging industries, the legal cannabis industry faces various challenges in raising capital efficiently and at attractive terms. The difficulty is even more pronounced in the early stages of a business’s life cycle. Founders, friends and family, and other angel-type investors often provide initial seed capital for the start-up phase. But most businesses exhaust this initial capital well before reaching stability and gaining access to traditional banks or other institutional financing. The vast majority of traditional financial institutions are still unwilling to lend to most aspects of the legal cannabis industry, leaving many cannabis-related businesses (CRBs) with few options to raise non-dilutive debt capital in modest size (e.g., < $20m) just as they are accelerating into their critical growth phase.
How does your business solve issues related to this challenge?
KreditForce LLC is an independent merchant bank dedicated to legal cannabis and related industries that are highly regulated. We … Keep reading