Accord Small Business Finance Answers Your Questions:
Accord will be your lender under the program. For clarity, we are not a broker or intermediary. We fund all loans out of our own resources. For more information on us, please click HERE to see our investor relations site at
Accord was founded in Toronto about 42 years ago and is now a TSX-listed company. Our primary office responsible for delivering loans under the BCAP program is located in North Vancouver, although we have employees in BC, AB, and Ontario. Accord has offices which manage other product lines in Toronto and Montreal, as well as in the US. For more complete information on us, visit our investor relations site.
Yes, we have a full line of lending products, ranging from equipment loans and leases, to working capital loans, to invoice factoring and other forms of asset backed lending.
We have a movie finance division located in Los Angeles which was our latest acquisition.
Yes! This program is available in all Canadian provinces in territories. Please note we will be slightly delayed in processing applications from the Province of Quebec but we’re working as quickly as we can to do so and anticipate being ready around the 3rd week of November.
Absolutely! Note that Accord’s policy is to never discriminate on the basis of age, race, sex, colour, religious belief, or any such similar thing. We believe we’re all in this world together!
Loans start at 8.95% and increase from there based on:
a) the credit quality of the business
b) the credit quality of the shareholders.
Simply put, “$0.00”. You can repay your loan at any time with no early payment penalty.
We stress that these questions do not affect the adjudication of your credit application. We gather this information simply for statistical purposes only and with the goal of ensuring we are reaching out to all Canadians with our program.
More official wording is included in the application package, but for simplicity the following types of organizations are automatically disqualified:
a) Entities that are government entities or owned by government entities;
b) organizations that promote hatred or discrimination;
c) organizations owned by a Member of Parliament or the Canadian Senate;
d) organizations with a high level of moral or reputational risk.
Yes, $20,000. Accord management may consider smaller transactions on an exception basis.
Yes, sole proprietorships do qualify. Sole proprietorships must be registered, have a business bank account, and a CRA business number.
Yes, each business with a unique business number may apply for an AccordExpress Loan regardless of who the shareholders are. Each business and its shareholders have to qualify.
Unfortunately unregistered sole proprietorships do not qualify, HOWEVER you can register your sole proprietorship to meet this criteria, so long as the new tradename/tradestyle. You must also have a Business Number (see other FAQ Item ). Since the tradename/tradestyle will be recently registered, we need to verify your business has been in operation for at least 12 months as an unregistered sole proprietorship. Common ways to verify is tax returns, GST returns, etc. to support the number of years in business you have redeclared. For example, if you declared you have been in business for 5 years, we would need you 2015 Tax Return, or a 2015 GST return, confirming your business and business number has been established as you have declared.
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