How Nic and the From the Earth team manages cash flow using Lendica
“Each week we make sure our employees are paid, taxes are set aside, and vendors are taken care of. Lendica is a critical part of our financial planning to ensure this is possible all 52 weeks of the year.”
Nic LoBasso is the Financial Controller for From the Earth, a multi-state cannabis operator with three locations across CA and MO and a fourth opening soon. Nic has managed to build a strong, repeatable financial operations by smartly spending the company’s cash and keeping strong supplier relationships. Lendica is a key part of his strategy.
Nic discovered Lendica through SellTreez POS and applied with ease. He was quickly approved for a $135,000 PayLater line of credit. Over the past year, Nic has used his PayLater line to ensure his best selling items are always stocked and his key supplier relationships are taken care of. Each week, Nic’s purchasing team reviews his vendor payables and uses his PayLater line for anything above his budget. “We take care of employees, tax bills, and pay suppliers on due dates. Lendica helps make that happens week in and week out.”
“Compared to the other lenders out there, Lendica was much faster and more affordable.”
We use PayLater to save each week for our quarterly excise taxes. It is much more expensive to pay a late fee versus Lendica’s tools to manage our cash flow.
“Lendica’s PayLater portal is really easy to use. I simply upload my vendor bills, selected my payment terms, and Lendica takes care of the rest.”
We have negotiated better terms, are first in line for drops, and get great service with our suppliers. Working with Lendica has helped build trust with our vendors to ensure they will always get paid on time.
