Child Safety Product Manufacturer Supported by Accord Financial When Previous Financing Exited Market
Accord Financial Corp., one of North America’s leading independent commercial finance companies ("Accord") (TSX: ACD) moved quickly to help a leading child safety product manufacturer when the company’s previous lender decided to reduce its footprint in the Canadian market. Over the past several years, the company had resolved their supply chain problems by acquiring a contract manufacturer that had been making their products. When the company’s original lender pulled out, Accord was able to quickly grant a higher asset based operating line. This extra financing will give the company the funds they need to further consolidate their manufacturing processes as well as provide room for growth.
As a financing company with deep knowledge and experience with asset-based lending, we were able to simplify the process of providing the $2.5M they needed. We were pleased to be able to help them turn challenges into opportunities without any pause in operations.
Cynthia Aboud, SVP Business Development, Canada Asset Based Finance
The Canadian-based client has won several industry awards, thanks to their focus on innovation and quality. With the inventive decision to acquire their previous manufacturer, they have not only improved their supply chain resilience, but also maintained quality control. While they had not worked with Accord Financial until this transaction, they feel confident of having a partner they can rely on as they continue to grow and thrive.
About Accord Financial Corp.
Accord Financial is North America’s most dynamic commercial finance company providing fast, versatile financing solutions for companies in transition including asset-based lending, factoring, inventory finance, equipment leasing, trade finance, and film/media finance. By leveraging our unique combination of financial strength, deep experience, and independent thinking, we craft winning financial solutions for both small businesses and medium-sized enterprises, simply delivered, so our clients can thrive. For 45 years, Accord has helped businesses manage their cash flows and maximize financial opportunities.