Established in the mid 2000\u2019s and currently operating across western Canada, this mid-sized pipeline company offers a wide variety of services such as construction, maintenance, demolition, and fabrication\/coating. The company has a strong management background and expertise in its industry.<\/p>\n\n\n\n
Many businesses are faced with the challenge of needing better cash flow to support a growing operation. Due to the numerous outstanding projects, an investment-grade accounts receivable facility was used. The company also wanted to prioritize flexibility to work through a turnaround. Hence, a financing solution from an alternative lender was the best option as a growth partner to address the need for additional working capital.<\/p>\n\n\n\n
Kyle Kreppenhofer from Ashdown brought the deal to Accord who diligently coordinated all details and activities with William Nurnberger, Director of Mid Ticket Business Development. They took the lead in addressing the concerns of the client one-by-one to efficiently structure an optimal deal.<\/p>\n\n\n\n
The client’s current lender showed signs of fatigue and was not in favor of extending additional credit facilities to support their growth and operational plans.<\/p>\n\n\n\n
At Accord, we leverage our unique combination of financial strength, deep experience and independent thinking to craft winning financial solutions. We analyze, justify, and structure the financing to support the client\u2019s needs, while taking necessary risks and evaluating various outcomes.<\/p>\n\n\n\n
Accord took the time and effort to understand our client\u2019s challenges. Using multiple products from Accord, we were able to provide the utmost flexibility. We offered a complete refinancing of outstanding debt to strategically enhance and reposition the company\u2019s growth. We successfully closed a new $26 million credit facility that will refinance their existing lender, help them achieve their growth plans, and gain a trusted financial partner.<\/p>\n\n\n\n
Through the concerted efforts of Ashdown, and the entire Accord team, we forged a strong and close relationship with the client; a process facilitated with thorough underwriting, funding, and legal procedures. Our unwavering commitment to the client’s success led Accord to b a unique financial solution: a $19 million term loan against their equipment fleet and a $5 million revolving credit facility. This was enhanced by investment-grade accounts receivable, with an initial seasonal increase to $7 million. Additionally, Accord facilitated the transfer of their existing $2.5 million Business Credit Availability Program (BCAP) loan from a previous lender. This strategic financial structuring, a testament to our collaborative approach, was specifically designed to address the client’s immediate needs and robustly support their anticipated growth, setting a solid foundation for their future success.
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We\u2019re driven by seeing our clients thrive. That\u2019s why we\u2019ve assembled the industry\u2019s foremost team of experts who are committed to finding the best solutions to unlock our clients\u2019 potential.<\/p>\n\n\n\n
<\/p>\n\n\n\n “At Accord, we pride ourselves on our ability to offer complete solutions. Our team’s deep understanding of diverse financial instruments and market dynamics enables us to handle complex scenarios with agility and precision. This case exemplifies our commitment to delivering comprehensive and customized financial solutions that align with our clients’ unique circumstances and objectives, only at Accord.”<\/p> <\/p>James Jang, President, Canada Small Business Finance<\/cite><\/blockquote><\/figure>\n","protected":false},"excerpt":{"rendered":" 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\u2019s newest client, a well-established contractor in Western Canada.<\/p>\n","protected":false},"author":9,"featured_media":13358,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[],"location":[6],"class_list":["post-13357","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","location-canada"],"acf":[],"yoast_head":"\n