Accord & Capital Markets Partnerships – Discussion with Jeff Armstrong, Director, Capital Markets
1. What is Accord’s Capital Markets group?
Accord’s Capital Markets group was created to fund lending opportunities in a collaborative manner with other financing companies, enabling us to meet the larger needs of customers. In addition to general business development, my primary role at Accord Equipment Finance is managing Capital Markets which includes all syndications activities for individual middle market equipment finance transactions.
2. How does Accord do it?
Accord simplifies businesses’ access to capital by providing facilities based on our lending capabilities as well as looking for other partners to fulfill the gaps in our product offering or amount needed by each business. In other words, Accord is buying and selling leasing transactions. We are both a buy-side and sell-side desk looking to generate originations and fee income through intermediaries, bank-owned equipment finance divisions, independent lessors, commercial bankers, private equity firms, and other centers of influence.
3. In which situations do Accord’s Capital Markets come into play?
There are a whole host of reasons why Accord Equipment Finance leverages our syndications expertise. Examples include transactions we originate that are larger than our typical hold levels, so we have the ability to engage other like-minded funding partners to co-invest with us. Or we may be presented with an opportunity that is out of our strike zone in which case we usually know exactly who to turn to get the transaction funded competitively and efficiently. Sometimes it could be as simple as a current portfolio client of ours with a small follow-on equipment finance need that we can easily take care of via syndications.
4. What is the Accord Advantage when it comes to Capital Markets?
Our Capital Markets team strives to maintain a high-touch, client-centric approach with all of our borrower/lessee clients as well as our business partners who refer us into opportunities.
5. What is your client-centric approach?
The stakeholders I work with are both external and internal. We have 5 core values at Accord and 3 of them align directly with building close, collaborative relationships. Specifically, these are: putting people first, being straight up, and challenging the status quo. Whether it’s presenting a multi-million-dollar term sheet to the CFO of a prospective client company or presenting a business plan for a brand new product line to our own CEO here at Accord, I strive to keep these values top of mind.
6. What motivates you the most in your efforts to help businesses that are looking for financing?
I recently conducted a new client site visit and facility tour along with the President of our business unit (we were all fully masked and physically distanced of course!). The CFO shared with us that of all the equipment finance providers they have worked with in the Company’s 10+ year history, Accord has been the most professional and straight-up team they’ve worked with. When I hear unprompted testimonials like this, it motivates me to raise the bar even higher to help our clients succeed and thrive.