Accord Financial Drives $25M Facility for Plastics Manufacturer
…Accord Financial Corp., one of the U.S. and Canada’s leading independent finance companies ("Accord") (TSX: ACD), announces the closing of a $25 million credit facility to help a plastics manufacturer support new business contracts as well as complete a strategic business acquisition.
What started as an equipment finance opportunity quickly developed into a more substantial transaction with the need for a larger ABL facility and an opportunity for a strategic business acquisition. Accord engaged a key partner to help structure and fund the substantially increased commitment.
“The rapidly evolving transaction was quickly crafted thanks to Accord’s deep understanding of the client’s growth stage as well as their specialized equipment and bringing in the right partner to make it happen,”
Mike Wells, Director, Capital Markets, Accord financial
The total facility included a revolving line of credit, equipment term loan and equipment lease. “Accord’s flexibility and close partnership drove our success. We look forward to working together for many years in the future,” said Wells.
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.