Accord Financial closed its first private securitization facility at $100 million. 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,” Simon Hitzig, president of Accord Financial, said. “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.”
A Fortune 500 Canadian life insurance company agented the securitization facility for Accord.
