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In 2021, Accord Financial provided a $13 million facility for Energetic Services Inc. (Energetic), an oil and gas services company, solidifying its commitment to supporting businesses during both recovery and expansion phases.
Welcome to the world of AccordExpress Factoring – where speed meets flexibility, and your business can thrive!
Invoice factoring is a form of financing that businesses can use to improve their cash flow. When businesses factor invoices, they sell them to a factoring company at a discount in exchange for immediate payment. This allows businesses to get access the money they're owed right away, rather than waiting for their customers to pay.
Most growing companies should have a revolving facility in place because it enables additional growth in operations and limits the potential issue of growing faster than liquid capital. This was certainly true for Accord’s newest client, a well-established contractor in Western Canada.
Accord Financial Corp. (“Accord” or the “Company”) (TSX – ACD) today released its financial results for the third quarter ended September 30, 2023. The financial figures presented in this release are reported in Canadian dollars and have been prepared in accordance with International Financial Reporting Standards.
Asset-based lending refers to a specific type of secured loan that leverages company assets as collateral. An asset-based loan can help established companies grow by using their assets as collateral for business financing.
The outbreak of the global pandemic had drastic effects on the economy, leading to job losses and business closures. In order to support those who had lost their jobs and businesses, the federal governments of Canada and the United States injected a significant amount of money into the economy in the form of subsidy packages and loans.
With over two decades in small business lending, I've had the privilege of witnessing the ebbs and flows, triumphs, and challenges of countless businesses. These experiences have cemented my understanding of the integral role financing plays in the success of every small enterprise.
Accord Financial Corp. (“Accord” or the “Company”) (TSX – ACD) announced the following amendments (the “Amendments”) to its 7% convertible unsecured subordinated debentures issued on December 18, 2018 and due December 31, 2023 (the “Debentures”) are effective today: