Collateral Onboarding Call #36: CapitalNow Cannabis - Wednesday, August 18 4PM UTC

Collateral Onboarding Call #36: CapitalNow Cannabis - Wednesday, August 18 4PM UTC

Time in your local-timezone format:
2021-08-18T16:00:00Z

Mark it on your Google Calendar!

Dial In Details

Zoom call
Passcode: RWA-WG

Intro

An open discussion where we discuss projects and potential assets for MCD, open for anyone to join.

If you’d like to present, check out this thread.

Agenda

Intro by @JuanJuan
Presentation by Pep Ruckpanich (@Pep_Ruckpanich)

CapitalNow Cannabis — https://capitalnowcannabis.com

MIP6: [NCP01-DROP] MIP6 Application: European Point-of-Sales Consumer Finance Portfolio

CNC provides asset based financing to the cannabis industry; we specialize in account receivables financing/factoring and are adding equipment financing to our service offering. Traditional financial institutions and service providers have not offered their standard asset-based lending (ABL) services to the cannabis industry due to the inability of their current underwriting process to assess and mitigate risk

CNC mainly buys invoices issued by Licensed Producers (LPs) 1 to the Provincial Governments of Canada (B2G) at a discount. The provincial governments, which earn AA- to AA+ credit rating, and a few select larger and bank quality LPs have made it through underwriting and been approved as account debtors (B2B). New account debtors that have not received the same credit standing as the provincial boards and bank quality LPs have a credit limit placed on them as they work towards a more solid credit standing with CNC’s internal credit rating system.


Attn: @Risk-Core-Unit, @GovAlpha-Core-Unit , @Protocol-Engineering, @Real-World-Finance, @elprogreso, @ejbarraza, @_LS, @planet_x, @g_dip, @PaperImperium

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Thank you to the community members who joined the call. Please find our presentation via this link and you can contact me at [email protected] or via Maker forum if you have any further questions.

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This full call is now available for review on the MakerDAO Youtube Channel:

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Collateral Call Summary - Episode #36

August 18th, 2021

Agenda

Video

https://youtu.be/NN-oOlkpjXw

Introduction

Juan Guillén

Agenda and Preamble

00:00

  • Welcome to another Collateral Onboarding Call. My name is Juan, and I am the facilitator for SES CU. Today we are joined by CapitalNow Cannabis and the Centrifuge team. We are going to be discussing their MIP6 application and anything that has to do with their company.
  • Discussions about collateral happen in the Forum.

CapitalNow Cannabis

Pep Ruckpanich, Gerry Wawzonek, and Joshua Reynolds

Presentation

00:40

Discussion

Closing Comment

Juan Guillén

Outro

47:36

  • Thank you for coming over and presenting. Thank you to everyone else for joining.
    • Joshua Reynolds: You can reach out anytime at capitalnowcannabis.com. We are happy to take any questions that we can share with you. We are really excited about this opportunity. It is going to be a great enhancement if we can get everybody on board. This is something that you are all going to be very proud of in the future!
    • Colin Cunningham: It has been a really fun journey for us here at Centrifuge to get to know the team at CapitalNow Cannabis. We have really grown together with our understanding of Defi, how important Maker is to this entire equation, and helping lift this industry in the ways that the CapitalNow Cannabis team has described today. Thank you, Frank and Payton. There is natural skepticism around the cannabis industry. Still, I hope we can support the Maker community in understanding the importance of supporting businesses like this and financing opportunities like this. There is excitement leaving this call, and there are only a few of us on it. I hope we can find a way to vibrate out through the broader Maker community. Coming into this, there might have been more skepticism. Still, I hope you all have seen what makes this team, this company, and this opportunity so exciting for Centrifuge. We are excited to hopefully have Maker, and all of us be a part of this! Thank you to the CapitalNow Cannabis team and to the Maker community. Let us know how we can help to get the story out there!

Credits

  • Gala Guillén produced this summary.
  • Everyone who spoke and presented on the call, listed in the headers.
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