Does Accord Small Business Finance Provide Merchant Cash Advance Loans?

Automatic Payments

No. A merchant cash advance is secured by a claim on your future credit card sales. Our Accord Small Business Finance Short-Term Small Business Loan is just that – a short-term loan with manageable weekly payments. We set up the loan payments to come automatically from your bank account each Wednesday. Unlike many (not all) Merchant Cash Advance loan providers, Accord Small Business Finance’s loan agreements detail in plain language the terms of your loan. And you can repay at any time, subject to a small interest penalty.

How Can a Short Term Loan from Accord Small Business Finance Help My Business?

Manage Short-Term Packages

We know how difficult it is for small businesses to obtain loans to take advantage of an opportunity or resolve a short-term cash flow issue. Our short-term loan product, Accord Short-Term Small Business Loan, is designed to help you manage through these types of challenges. Maybe you need extra inventory for the upcoming season, or you’ve received a large order and need help fulfilling it. Or maybe your customer didn’t pay you on schedule and you need help with payroll or other bills. Our short-term loan can help ease your cash flow issues and allow you to get back to focusing on growing your business.

What are the rates / fees / payments?

Clear Loan Agreements

We aim to be the most transparent business lender in Canada – there are no fees other than the lender fee and interest rate clearly outlined in the loan agreement. And unlike your bank and other lenders, we won’t ask for your home, car, equipment or your credit card receipts as collateral. Our pricing takes this, and the very short term, into account. Accord Small Business Finance is perfect for situations when the advantage of investing in your business outweighs the short-term cost of borrowing.

What can I use the loan for?

Business Purposes

Anything your business needs: additional working capital, additional inventory, capital projects, marketing or even catching up on your accounts payable. The only restriction is that the loan proceeds must be used for business purposes and not consumer/personal purposes.

How is Accord Small Business Finance better than a bank or other business loans?

We are faster and more flexible. Unlike banks, we can make a decision on your application in minutes and fund as soon as the next business day. Also, most bank loans are secured by real estate, equipment or inventory.

In terms of other types of loans, Merchant Cash Advances involve selling a percentage of your future sales, and are typically much more expensive than our business loans. Merchant Cash Advance loans often require you to change credit card processors, and are often extremely expensive to repay early.

Start growing your business now with Accord Small Business Finance!

Apply Now!

Start growing your business now with Accord Small Business Finance!

Apply Now!

We’re happy to help!

Contact Us

Have a question about business financing? We’re happy to help

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We’re happy to help!

Contact Us

Have a question about business financing? We’re happy to help

Learn More

Apply for a small business loan Now!