Marine Services Company Able to Pursue Wind Energy Business with $2.5 Million Accounts Receivable Financing from Accord Financial
Accord Financial Corp., one of the U.S. and Canada’s leading independent finance companies ("Accord") (TSX: ACD), is pleased to announce the closing of a $2.5 million credit facility to help a marine services company move into the wind energy space. Accord’s Asset Based Lending Group structured the facility to include a traditional revolving credit package backed by accounts receivable.
Accord is dedicated to helping growing companies focused on meeting ESG goals. This transaction also reflects our interest in helping organizations still young in their lifecycle as well as those making entry into new market segments.
Jim Hogan, President, US Commercial Finance
Accord’s lending relationship with this customer began thanks to a long-standing “thought partner” connection. Once the company had grown to a certain point and learned that their local bank could not support its continued growth, they looked to Accord for assistance. “We feel strongly about creating long-term relationships with our clients and look forward to working with this company for many years in the future,” said Hogan.
About Accord Financial Corp.
Accord Financial is North America’s most dynamic commercial finance company providing fast, versatile financing solutions for companies in transition including asset-based lending, factoring, inventory finance, equipment leasing, trade finance, and film/media finance. By leveraging our unique combination of financial strength, deep experience, and independent thinking, we craft winning financial solutions for both small businesses and medium-sized enterprises, simply delivered, so our clients can thrive. For 45 years, Accord has helped businesses manage their cash flows and maximize financial opportunities.