Accord Financial Corp. Announces its Participation in Export Development Canada’s Business Credit Availability Program Guarantee
Accord Financial Corp. (TSX – ACD) (“Accord Financial”) today announced the launch of its participation in the Export Development Canada (EDC) Business Credit Availability Program (BCAP) Guarantee. The EDC BCAP Guarantee provides eligible small and medium sized companies with loans of up to $6.25 million.
“Accord and its subsidiaries have a long history of cooperation with EDC. The strong relationships built over decades were the catalyst for this new partnership,” said Simon Hitzig, President and CEO of Accord Financial.
“Entrepreneurs drive the Canadian economy, and since 1978 Accord has simplified access to capital to help companies thrive. With this program, Accord’s clients can now access additional liquidity to fund operations and manage through this difficult time”, said Cynthia Aboud, Senior Vice President of subsidiary Accord Financial Inc.
To help Canadian companies, the EDC BCAP Guarantee is available not only to exporters but also those with only domestic business. Eighty percent (80%) of the loan will be guaranteed by EDC and the guarantee fee of 1.8% will be deferred for the first 6 months. After the initial term of one year, a BCAP loan can be renewed for up to a total of 5 years.
“This program is a terrific tool to help companies weather the storm, and keep our economy moving forward. We’re proud to offer it,” added Hitzig.
Accord’s existing clients can work with their Account Managers to determine their eligibility for the program.
For more details on how to become an Accord client, companies are invited to email firstname.lastname@example.org or call 1 844 932 9940.