Accord Financial Corp. announces the relaunch of AccordExpress, which provides financial support to Canadian entrepreneurs throughout the export supply chain
TORONTO, February 8, 2022 /CNW/ – Accord Financial Corp. (TSX: ACD)
Accord Financial Corp. (“Accord”) today announced the relaunch of AccordExpress, Accord’s unique small business financing program. For 2022, AccordExpress is designed to support companies engaged throughout the export supply chain. Direct exporters, as well as indirect exporters (companies supporting exporters of goods and services), are welcome to apply.
AccordExpress was a resounding success in 2021, bringing hundreds of Canadian businesses closer to recovery. This innovative program continues to offer a simple twenty-minute online application process with an exclusive credit model to approve and fund loans within two business days. The program offers up to $250,000 for the working capital of qualified companies, and up to $1 million if backed by equipment warranties, all with flexible terms designed to drive growth in 2022. Accord can also provide up to $6.25 million for companies qualified under the same program, after a more detailed credit study.
AccordExpress is backed in part by the Trade Recovery Guarantee (TRG) from Export Development Canada (EDC). Accord has a long history of cooperation with EDC; in 2021, the Company financed over a thousand Canadian small businesses, backed by EDC’s Business Credit Availability Program (“BCAP”) guarantee.
AccordExpress now provides financing to companies along the entire supply chain: those supplying raw materials or components for export products, a wide range of service, transport and logistics providers, and exporters directly. “AccordExpress reflects our company’s determination to support economic recovery from coast to coast. Canadian entrepreneurs can lead Canada at the forefront of global trade, they just need fast and flexible funding to get the job done,” said Simon HitzigPresident and CEO.
“Entrepreneurs are the engine of the Canadian economy, creating jobs and driving economic growth at home and abroad. AccordExpress powers the supply chain and helps restore from Canada place in the global economy,” says James JangPresident of Accord’s Small Business Division.
“Accord’s commitment to Canadian entrepreneurs remains stronger than ever; we are constantly developing simple, unique and innovative programs to advance our economy,” adds Jang.
About Accord Financial Corp.
Accord Financial is North America the fastest growing trade finance company providing fast and versatile financing solutions for businesses in transition, including asset-based lending, factoring, inventory financing, equipment leasing, trade finance and financing movies/media. Leveraging our unique combination of financial strength, deep experience and independent thinking, we design winning financial solutions for small and medium businesses, simply delivered, so our clients can thrive.
SOURCE Accord Financial Corp.
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