Accord Financial review: Pros, cons & alternatives

Is Accord Financial legit?

Yes, Accord Financial Corp is legit as it’s a publicly traded Canadian company listed on the Toronto Stock Exchange. It’s been in business since 1978, with a long track record of providing asset-based financing, equipment leasing, factoring and other financial services. The company is also registered with the applicable provincial and federal regulatory bodies, such as the Ontario Business Registry.

Pros and cons

Consider the pros and cons of working with Accord Financial to determine whether it’s the right move for you and your business:

Pros

• Creative solutions. Accord uses all imaginable assets to leverage and deliver immediate cash.
• Operates in many industries. It works with many industries, including manufacturing, retail, food and beverage, construction and more.
• Quick access to money. Loan delivery times can be as quick as the day after applying.
• Over 40 years of experience. Accord Financial has been operational since 1978, so it has plenty of experience helping companies grow.

Cons

• Lack of information. Many of the rates, terms or even requirements for specific financing options aren’t available online and require customer service representative assistance.
• Designed for stable or growing businesses. Accord has a huge mandate for success and only works with established companies. Companies that are facing financial difficulties or are still in the startup phase may not be eligible.
• High interest rates. Although Accord Financial doesn’t provide its interest rates, some borrowers have reported that they can be high compared to traditional banks.

Alternatives to Accord Financial

Accord Financial reviews

Site	Details
Trustpilot	2.6 based on 4 reviews
Google	2.6 based on 10 reviews (Toronto branch) 5.0 based on 13 reviews (Vancouver branch) 5.0 based on 1 review (Montreal branch)
BBB accreditation	Accord Financial Corp. isn’t accredited, but its subsidiary, Accord Financial Canada Corp., is
BBB rating	A+
BBB reviews	1.0 based on 1 review

Reviews as of May 15, 2025

What do Accord Financial reviews say?

There aren’t a ton of Accord Financial reviews, but the ones available on Trustpilot, the BBB and Google show mixed feelings. Some reviewers say they received excellent customer service, flexible terms and fair rates. Others state the opposite, saying they received no response or bad service and high rates.

Types of Accord Financial business loans

Here’s a list of all the business loans Accord Financial offers:

Asset-based lending

Businesses with assets like inventory, machinery, real estate or accounts receivable can list them as collateral to apply for an asset-based loan. However, there’s a risk that those assets could be lost if the business defaults on the loan. Also, the loan amount will depend on the value of the assets.

Accounts receivable financing

Accounts receivable are a huge asset for many businesses, especially ones with long payment terms. Instead of waiting 30 to 90 days to receive payments, Accord can buy accounts and pay out up to 90% of outstanding invoices. This gives companies instant access to cash they know will be coming. Using this method, businesses can access $1 million to $20 million. Small businesses can also take advantage of this type of loan by calling Accord directly.

Lender financing

Financing companies often need financial support themselves. If your company provides loans for others, Accord can offer up to $20 million in financing based on your portfolio of loans if your business centres around one of these lending models:

• FinTech
• Merchant cash advances
• Automobile finance and leasing
• Factoring and asset-based lending
• Consumer receivables
• Other specialty lending segments

Inventory financing

Retailers often find themselves in a position where cash is tied up in inventory. However, other expenses can arise, leaving inventory-based businesses in a tight position. Inventory financing will give businesses a loan based on the value of their inventory as collateral.

Accord will loan $1 million to $20 million under this form of financing, with advance rates up to 90% of the net realizable value of your inventory. The typical term for inventory-based financing is one year, but if you require less than $75,000, Accord offers small business loans with no minimum term.

Equipment financing

Businesses often require large and expensive equipment to begin or expand operations. Accord can finance the purchase and lease of large assets required for operations. Note that the purchased equipment will be used as collateral for the loan. Equipment lease terms are up to 5 years, and Accord will finance equipment valued from $500,000 to $20 million.

Small business loans

The small business loan is the smallest yet most versatile loan Accord offers. Loans are extended to a maximum amount of $75,000 and are repaid over an 18-month term. The small business loan is given out based on past and forecasted sales.

Media financing

Through Accord’s related company BondIt, they finance media projects. They provide funding from $50,000 to $25 million. They have financed Oscar-nominated films, Netflix Originals and other large Hollywood productions. BondIt will only join projects that already have reputable people attached and some funding secured. BondIt is never the first or main financer.

Factoring

Factoring is the process of your company’s outstanding invoices and collecting the debts. Accord offers factoring services through AccordExpress. Using this service, they would purchase your business’s accounts receivable, give you an advance of up to 90% of the money owed and collect the debts on their own. When they receive the payment from your customers, you’ll receive the original 10% to 25% that was withheld, less a fee.

What are the interest rates of Accord Financial business loans?

Accord Financial doesn’t publish its interest rates online. However, since it’s an alternative lender, you should expect rates to be higher than those of traditional banks—potentially starting at 10%. Your rates will also vary based on the loan type, as well as your risk, collateral and financial health.

How to qualify

Each loan Accord Financial offers has different eligibility requirements, but here are some general ones you should meet to apply:

• Be located in Canada or the United States
• Be in business for at least two years
• Earn a minimum annual revenue of $250,000
• Have an average credit score or assets for collateral
• Have a detailed business plan
• Have a dedicated business account

How to apply for a business loan with Accord Financial

If you’re eligible and want to apply for a business loan with Accord Financial, follow these steps:

1. Choose the right loan

Start by considering your finances and business goals to determine which loan is right for you.

2. Gather the necessary documents

After choosing a loan type, review Accord Financial’s application checklist and gather all the documents you’ll need, including:

• The last three years of financial statements
• Year-to-date financials
• Personal net worth information
• Ownership details
• Legal and credit history
• A business plan

3. Complete the online application

With all your documents in hand, you’re ready to apply for a loan on Accord Financial’s website. You’ll need to include information like your business name, how long you’ve been in business and your annual revenue. You can save your progress and return at any time, but the initial application only takes 10 to 15 minutes to complete.

4. Review the loan terms

Accord Financial says its team will review loan applications within 24 to 48 hours and give you a decision within 3 business days via email. If you’re approved, go through the loan terms carefully to ensure you agree with everything. Then, once you sign all the documents, funds will be disbursed.

What to expect once you receive your business loan

You got your business loan and are now able to grow your company. Use the loan for the intended purpose. Be sure to follow the terms of your loan by making payments on time and in full to avoid fees or damage to credit scores.

Bottom line

Accord Financial is a well-established alternative lender with flexible loan options for established Canadian companies. It offers fast access to capital but may not be suitable for startups or businesses in financial distress. If you need a creative financing solution and can offer collateral or have strong receivables, it’s worth considering. However, be sure to compare different lenders to avoid high costs.