TORONTO, Nov. 24, 2015 /CNW/ - Accord Financial Corp.
("Accord") (TSX:ACD) today announced the launch of AccordAccess, a
unique online lending program aimed at financing growth for small
and medium-sized businesses across Canada. AccordAccess is a fast, flexible
working capital solution that provides unsecured loans of up to
$75,000 to qualified companies.
"Small businesses face a tough time borrowing from Canada's banks and credit unions, with credit
hurdles and lengthy timelines screening out even prime quality
companies. Accord is stepping in to fill the gap," explains
Tom Henderson, President. "This
innovative program leverages our nearly forty years of experience
supporting this vital part of the economy."
AccordAccess simplifies the entire borrowing cycle, processing
applications in real time through www.accordaccess.com, and
delivering funds to approved clients within twenty-four hours. Loan
terms are tailored to each client, with a repayment cycle extending
up to eighteen months. The program aims to help entrepreneurs take
advantage of growth opportunities or manage successfully through
challenging times.
AccordAccess is enabled by technology but the program is driven
by Accord's experienced people. "Technology makes us faster, but we
don't plan to entrust our valuable client relationships to a
computer," says James Jang, General
Manager. The program is also available through independent leasing
brokers and other financial professionals, adding another layer of
personal service.
"Several US-based lenders have entered Canada recently, but they seem focused on high
risk borrowers – companies with few options available," adds Mr.
Jang. "In contrast, AccordAccess is designed to serve creditworthy
companies looking to seize opportunity and drive growth. Several
local start-ups have also launched in recent months, but none offer
the level of experience, understanding and transparency of Accord
Financial."
Accord also has a unique ability to serve clients as their
business grows. AccordAccess is an entry point to Accord's broad
suite of financing solutions – as clients evolve and grow Accord
can offer support along the way with equipment finance, flexible
inventory finance, and larger asset-based loans. Most online
lenders simply don't have these capabilities.
"This is a natural step for Accord. All the building blocks are
here – deep experience, innovative technology and dependable
capital – we put it all together to become the leading source of
quick working capital," adds Mr. Henderson. "Access to capital has
never been easier."
About Accord Financial Corp.
Accord Financial Corp.
is a leading North American finance company providing distinctive
working capital solutions to companies from coast to coast.
Accord's flexible finance programs cover the full spectrum of
asset-based lending, from factoring and inventory finance, to
equipment leasing and trade finance. For 38 years Accord has helped
businesses manage their cash flows and maximize financial
opportunities – keeping business liquid.
SOURCE Accord Financial Corp.