Financing a Cyclical Downturn
Monroe Credit Advisors is one of the many third party referral sources that repeatedly turn to Accord Financial to achieve results for their clients.
When one of Monroe Credit Advisors clients, a manufacturer of thermal printers and print heads in the U.S. Midwest was encountering top line depression and weakened cash flow due to the recession, Monroe turned to Accord Financial for funding.
The existing lender was unwilling to renew its loan agreement. To continue operations, the client needed urgent takeout financing – a challenge given their vastly weakened credit profile and tight credit markets.
While a number of other lenders were unwilling to take on this apparent high credit-risk client, Accord Financial stepped in. We met with Monroe and their client, and on careful review of their collateral and business, we dedicated the resources, time and attention necessary to provide the loan facility needed during their cyclical downturn.
Eight months later, the client is on projections and in the black.