Accord Financial provided a $12 million credit line to a travel company whose business has picked back up following the severe slowdown caused by the COVID-19 pandemic. The credit line provides availability against accounts receivable.
During the pandemic, the company’s operating lender cut its line of credit to 20% of the amount authorized. When travel picked up in 2022, the original banking lender couldn’t restore the company’s higher limit. Accord Financial was able to offer financing at pre-pandemic levels that was tailored to the company’s cash flow needs.
“Accord is committed to supporting businesses in their pursuit of success and growth,” Cynthia Aboud, senior vice president of business development in Canada for asset-based finance at Accord Financial, said. “While the travel industry was especially hard hit, it has shown exponential growth, and we are pleased to be able to help our client during this transition.”
