Accord Financial closed a $2.5 million credit facility to help a marine services company move into the wind energy space. Accord’s asset-based lending group structured the facility to include a traditional revolving credit package backed by accounts receivable.
“Accord is dedicated to helping growing companies focused on meeting ESG goals. This transaction also reflects our interest in helping organizations still young in their lifecycle as well as those making entry into new market segments,” Jim Hogan, president of U.S. commercial finance at Accord, said.
Accord’s lending relationship with this customer began thanks to a long-standing “thought partner” connection. Once the company had grown to a certain point and learned its local bank could not support its continued growth, the company looked to Accord for assistance.
“We feel strongly about creating long-term relationships with our clients and look forward to working with this company for many years in the future,” Hogan said.
