Accord Financial announced the launch of AccordExpress Factoring, simplifying access to capital for Canadian small and medium sized enterprises (SMEs). With businesses stretched to the limit with pandemic-related debt and the costs of gearing back up as the economy reopens, AccordExpress Factoring unlocks cash tied up in receivables creating an ideal solution for companies preparing to reopen and grow. No other company in Canada can match the speed and flexibility of Accord's new program.

While factoring is a popular cash flow tool, Accord's financial strength has allowed it to enhance the solution. Term sheets are delivered in 48 hours and funding up to $2 million arrives within ten business days. AccordExpress Factoring provides immediate access of up to 90% cash advance on accounts receivable, either one debtor or all receivables with no setup fee or long-term contract, allowing clients to easily sign up and use the program for as long as they want.

The new program follows on the successful launch of AccordExpress BCAP, Accord's unique pandemic relief small business loan program. "Businessowners can now unlock cash tied up in goods and services they've already delivered to their clients," said Simon Hitzig, President and CEO. "Factoring isn't new, but Accord's unique solution for SMEs is."

AccordExpress Factoring is aimed at owners repositioning their business, transforming their balance sheet or looking to seize growth opportunities, with ongoing cash needs between $500,000 - $2 million. Additional flexibility can be delivered through quick over-advances and inventory financing to qualified clients.