TORONTO, Dec. 16, 2021 /PRNewswire/ -- Accord Financial
Corp., one of the U.S. and Canada's leading independent finance companies
("Accord") (TSX: ACD) announced the closing of its first private
securitization facility agented by a Fortune 500, A.M. Best A+
rated Canadian life insurance company. This $100 million facility is a significant milestone
for Accord, advancing the organization's goal of diversifying its
funding sources to support growth of its North American
business.
This private securitization provides term financing for a
discrete amortizing pool of small business loans originated by
Accord. "We are pleased to have closed this substantial new
financing vehicle, allowing us to fully support our customers'
needs for liquidity and growth financing while at the same time,
expanding and broadening our sources of capital," stated
Simon Hitzig, President, Accord
Financial. "As we continue to pursue our goal of simplifying access
to capital so our clients can thrive, we are confident we have the
right partners in place to fulfill our mission."
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 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 43 years, Accord has helped businesses
manage their cash flows and maximize financial
opportunities. www.accordfinancial.com
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SOURCE Accord Financial