Accord Financial supported a Canadian-based child safety product manufacturer with a $2.5 million asset-based operating line when the company’s previous lender decided to reduce its footprint in the Canadian market.
Over the past several years, the company had resolved its supply chain problems by acquiring a contract manufacturer that had been making its products. When the company’s original lender pulled out, Accord Financial granted a higher asset-based operating line. This extra financing will give the company the funds it needs to further consolidate its manufacturing processes and grow.
“As a financing company with deep knowledge and experience with asset-based lending, we were able to simplify the process of providing the $2.5 million they needed,” Cynthia Aboud, senior vice president of business development of Canadian asset-based finance at Accord Financial, said. “We were pleased to be able to help them turn challenges into opportunities without any pause in operations.”
