$12MM Credit Line Helps Travel Company Soar to New Heights
When a travel company’s business picked up dramatically post-Covid, Accord Financial Corp., one of North America’s leading independent commercial finance companies ("Accord") (TSX: ACD) moved quickly to provide the company with the liquidity they needed to manage their fast-growing business. As one of the hardest hit industries, travel had come to an almost complete halt during Covid. The company’s operating lender cut their line of credit to twenty percent of the amount authorized. When travel picked up in 2022, the original banking lender couldn’t restore the company’s higher limit.
Accord was able to offer financing at pre-pandemic levels, tailored to their cash flow needs. With $12MM of availability against accounts receivable, the company now has the confidence that as they grow and prosper, their Accord operating line will grow with them.
Accord is committed to supporting businesses in their pursuit of success and growth. While the travel industry was especially hard hit, it has shown exponential growth, and we are pleased to be able to help our client during this transition.
Cynthia Aboud, SVP Business Development, Canada Asset Based Finance
Asset-based lending is a valuable solution for companies looking to overcome financial obstacles and support growth. This type of lending offers the flexibility to meet short term financial obligations while still allowing room for growth and an alternative option for those who may not be eligible for traditional bank loans. Our client’s journey is a testament to the power of asset-based lending and what it can do for businesses looking to reach new heights.
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.