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Large Cannabis Distributor Added to Sweet Leaf Madison Capital’s Preferred Vendor Program

February 13, 2023, 06:00 AM
Filed Under: Equipment Finance News

Sweet Leaf Madison Capital (SLMC), a nationwide provider of customized debt solutions for the middle-market cannabis industry, added GrowersHouse, a cultivation equipment supplier, and CannaCribs Horticulture Consulting, their design and consulting arm, to its Preferred Vendor Program.

“Cannabis equipment can be pretty expensive, and it's no secret that manufacturers often struggle to make sales if they can’t help their customers smooth out big purchases by offering financing,” said Nate Lipton, CEO and Founder of GrowersHouse. “SLMC’s Preferred Vendor Program is exactly what we need. The Sweet Leaf Madison team is honest and transparent with every one of their partners, which means a lot in this business, and they’ve dramatically increased the speed of our sales by acting as a crucial source of financing. We are really excited about the opportunities this will open up for us.”

SLMC’s Preferred Vendor Program is aimed at helping participating vendors gain a competitive advantage by increasing the velocity of their sales. Through SLMC’s lending platform, vendors are able to provide their customers with a source of financing to make expensive purchases of equipment, which means those clients can spread their capital and manage cash flow across a broader range of business needs. This arrangement is highly advantageous to all parties. SLMC is able to help its vendors by providing them liquidity, vendors win by boosting sales velocity across more of their customer base, and customers win by getting lower costs of capital and access to the equipment they need to grow.
The program is also distinguished by providing quick approval for the majority of qualifying customers and offering opportunities for co-marketing through press releases, joint branding, and coordinated appearances at conferences and trade shows.

“What’s always impressed me about GrowersHouse is that they’ve maintained that ‘small business’ feel even as they’ve scaled up to become one of the biggest cultivation supplier and cannabis consultancies in the industry,” said Ted Harris, Co-Founder and Executive Managing Director of SLMC. “They care about their customers, and they care about getting the job done right. That’s the kind of company we want in the Preferred Vendor Program.”

For more equipment finance industry news, visit Equipment Finance Advisor.

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