Applying doesn’t impact your credit score
Not all Canadian business loans are the same. AccordExpress can be drawn and repaid whenever you need. No fixed monthly payments and no set principal repayment until maturity.
A business line of credit provides access to funds on demand, anytime, up to the approved credit limit. Unlike a term loan, funds can be repaid and drawn again whenever you need, with no minimum monthly payments and no set principal repayment until maturity. AccordExpress flexibility gives you full control over your cash flow.
Unlike traditional loans, you can draw and repay funds multiple times during the agreement, which is typically renewed every 12 months. Funds are accessible within 1-3 business days of request, with interest paid monthly only on the amount drawn. Repaying funds reopens your credit availability, making it a revolving line of credit.
The funds can be used for any business expense!
To access funds, you would submit a disbursement request, up to your approval limit, and funds will be accessible from your bank account in 1-3 business days.
No, while we’ll pull your credit bureau report, loans with Accord do not appear as an obligation.