Accord Financial Renews Advantex Facility
Advantex Marketing International renewed its credit facility with Accord Financial for one year to December 2015.
The renewal agreement gives Advantex continuing access to the facility with a limit of $8.5 million. Advantex will continue using the facility to expand its popular advance purchase marketing (APM) program, which makes a significant contribution to the company’s business.
Under the APM program, Advantex purchases future designated credit card sales at participating merchants at a discount to face value. Advantex’s revenue comes from the spread between these transactions and the cost of acquiring the pre-purchase rights. The revenue is recognized when consumers use a qualifying credit card at merchants enrolled in the program. Advantex receives the proceeds of the transaction and applies a pre-determined portion to reduce the amount owed by the merchant.
Advantex provides specialized marketing programs that enable members of affinity groups to earn frequent-flyer miles and other loyalty rewards through purchases at participating merchants.