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    ACD   CA00435L1085

ACCORD FINANCIAL CORP.

(ACD)
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Accord Financial : Factoring is a great option for the transportation industry

06/16/2021 | 03:20pm EDT

Cash flow is a common problem in the transportation industry. The pain point for most transport businesses arises from the mismatch between the cash payments received from customers and the cash payments they have to make for operating expense, especially fuel and labor.

Let's review how factoring works in the transportation industry. Just like other industries that utilize factoring to finance their business, transportation companies can sell their accounts receivable invoices to a factoring company, and receive an advance as much as 90% of the invoice value.

When your transportation business sells invoices to a factoring company for a fee, you will receive cash on the same or next day-speeding up the cash conversion cycle and enabling management to run the business-instead of worrying about which bills to pay.

Freight, trucking and logistics businesses can take advantage of this cash advance via invoice factoring to support their operating expenses. This alleviates the pressure of dealing with working capital difficulties due to insufficient cash.

How does accounts receivable financing work for transport businesses?

You can also receive a cash advance for your accounts receivable invoices with A/R financing. Trucking and logistics companies can receive cash by leveraging their accounts receivable balances as collateral for a loan.

Likewise, you can leverage your accounts receivable assets as part of a larger collateral structure to obtain an asset-based loan.

Benefits of Factoring with Accord Financial

Accord understands the transportation industry and its unique challenges. We know that small and medium sized businesses are the backbone of the economy and we want to simplify access to capital with flexible financing solutions.

When your transportation business needs factoring, think Accord Financial.

Why Accord Financial?

With over 40 years in business financing, Accord Financial is an industry leader, providing business loans and cash advances to businesses in a broad range of industries.

Here are a few benefits of using their services for factoring:

  • Accord Financial partners with your business to understand your cash needs and customizes freight factoring solutions that best solve your money challenges
  • Accord provides cash right when you need it, no delays
  • Get affordable financing fees and rates with Accord Financial
  • Fast response to your truck and freight business financing needs. Call us directly to learn more about accounts receivable financing for your business: +1-844-932-9940 (Canada) / +1-844-725-4225 (US).

Disclaimer

Accord Financial Corporation published this content on 16 June 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 June 2021 19:19:05 UTC.


ę Publicnow 2021
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Financials
Sales 2020 31,4 M 25,1 M 25,1 M
Net income 2020 0,42 M 0,33 M 0,33 M
Net Debt 2020 269 M 215 M 215 M
P/E ratio 2020 138x
Yield 2020 3,58%
Capitalization 76,8 M 61,6 M 61,4 M
EV / Sales 2019 9,94x
EV / Sales 2020 10,4x
Nbr of Employees 103
Free-Float 38,5%
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Managers and Directors
Simon Hitzig President, Chief Executive Officer & Director
Stuart Adair Chief Financial Officer, Treasurer & Senior VP
Ken Hitzig Executive Chairman
Roy Owens Chief Information Officer & Vice President
Stephen Duncan Warden Independent Director