AccordExpress Loans up to $6.25 Million
Working Capital and Equipment Loan up to $6.25 Million
As a part of the federal government’s new $65 billion Business Credit Availability Program (BCAP), Accord Small Business Finance and Export Development Canada (EDC) are partnering to provide small and medium-sized Canadian businesses with financing during the COVID-19 pandemic.
Accord is pleased to continue our partnership with Export Development Canada to bring Canadian small business owners new financing options to adjust to uncertainty and get back on track for growth.
NOTE: If you require less than $1,000,000 please follow our expedited process – see our “AccordExpress” information page and application forms for faster service.
The TRG program is designed to help you get both the EQUIPMENT and WORKING CAPITAL you need to get back on track for growth. Proceeds may be used for acquiring new equipment and to support your operational cash flows, including recurring expenses, servicing existing loans, managing supply chain fluctuations, and internally financing accounts receivable.
Clients must qualify with Export Development Canada (EDC) as either a direct, indirect or future exporter. You may be classified as an exporter and not even know it! Even if you don’t directly export, if you form part of the supply chain of a customer who does or you have definitive plans to export in 2022, you may qualify. click below to download our “Am I an Exporter” brochure or click below to watch the EDC’s video.
HOW TO APPLY
As every client challenge and situation is unique, we initiate the application process with a brief client interview to assess eligibility under the BCAP program as well as the unique needs of the business. Please complete the contact form below and one of our BCAP program specialists will be in touch with you.
USE OF FUNDS & ELIGIBILITY
- Funds may be used to acquire new equipment at up to 100% of dealer invoice plus applicable taxes
- Funds may be used to unlock equity in your existing free and clear equipment for additional working capital
- Funds must be used to support operational expenses such as payroll, overhead expenses, and existing debt servicing/loan payments
- Funds cannot be used to refinance in full or in part any existing loans. Funds can only be used for existing scheduled debt servicing payments
- Funds MAY NOT be used to refinance existing debt, pay management bonuses, make distributions to shareholders (eg. repay shareholder loans), or to make dividend payments to shareholders
- Funds MAY be used to build inventories to prevent potential supply chain interruptions due to COVID
- Funds MAY be used to help manage the effects of reduced sales and slow paying customers (finance accounts receivable) due to COVID-19
- Other conditions apply – our TRG loan specialist will be able to discuss these with you and answer your questions during the initial interview.
If you require $1,000,000 or less, learn more about our AccordExpress product by downloading our product brochure. See the most frequently asked questions about AccordExpress by following the link below.
Schedule A Call-Back
You can speak directly to one of our decision-makers by scheduling a call-back today
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