What is Accord Small Business Finance?
Accord Small Business Finance is a direct funder dedicated to Canadian small to medium-sized businesses. They offer customized client solutions, with a variety of lending products including working capital and equipment financing solutions to help businesses grow. They are part of Accord Financial, a TSX-listed company serving Canadian businesses for over 40 years.
What services or products does Accord Small Business Finance offer?
Accord Small Business Finance offers working capital loans as well as equipment finance solutions. These include unsecured term loans, equipment loans, equipment leases, and more. As a direct funder, they’re able to offer and create customized client solutions.
Is Accord Small Business Finance safe?
Accord Small Business Finance, through its parent company Accord Financial, has been in business for over 40 years. Accord is an approved lender under the Export Development Canada’s Business Credit Availability Program. Accord is also a member of the Better Business Bureau and several Canadian Chambers of Commerce.
Who are Accord Small Business Finances's customers?
Accord Small Business Finance caters to Canadian small and medium-sized businesses and entrepreneurs.
What is Accord Small Business Finance's mission?
Accord’s mission is to simplify access to capital for companies in transition – reinventing, rebuilding, or simply shifting into growth mode.
How much can I borrow from Accord Small Business Finance?
Depending on the circumstances and product chosen, you can borrow anywhere from $20,000 to $10 million from Accord Small Business Finance. Up to $250,000 is available under our AccordExpress BCAP-backed program without assignment of any specific collateral, in 3 business days or less. As an approved BCAP lender, we can provide subordinate facilities up to $6.25 million. Note these facilities require a comprehensive business review and additional information requirements. We also offer financing on new and used equipment you are purchasing, or even the ability to unlock the equity in your existing equipment for working capital purposes.
What is the interest rate on an Accord Small Business Finance loan?
The interest rate on an Accord Small Business Finance loan starts at 8.95%.
What is the term length of an Accord Small Business Finance loan?
Terms vary by product and range from 36 to 60 months.
How fast can I get my loan money from Accord Small Business Finance?
If approved, in most cases, the entire application, approval, and funding process can be completed in a few days.
What can Accord Small Business Finance's equipment loan be used for?
Accord Small Business Finance equipment financing by way of both lease and loan structures can be used for companies acquiring new or used equipment, but whose balance sheet or circumstances fall slightly outside of traditional lending parameters.
What is Accord Small Business Finance known for?
Accord Small Business Finance is known in most segments of the capital-intensive industries (energy, forestry, construction, mining) as an equipment financier.
Why do people use Accord Small Business Finance?
Small business owners use Accord Small Business Finance because they assist clients whose financial needs cannot be readily met through their primary bank or credit union. They help clients whose situation takes a little more time and effort in understanding than other institutions may have the time or expertise for.
Who's eligible for an Accord Small Business Finance loan?
Eligibility requirements vary by product. See the information above for information on eligibility for AccordExpress BCAP-backed loans. Eligibility for equipment leases and loans and other equipment-backed products are based on a review of the financial statements of the business, the strength of the collateral, and the credit history of the shareholders.