Accord Financial Acquires Portfolio of Loans from Brome Capital
TORONTO, Oct. 11, 2013 /CNW/ - Accord Financial Corp. (TSX: ACD) announced today that it has acquired a portfolio of factoring and asset-based loans from Brome Capital through its subsidiary, Accord Financial Inc. (AFI). After taking into account the acquisition, Accord's portfolio of loans currently exceeds $120 million.
Fred Moss, President of AFI, stated: "The acquisition of this portfolio of loans reinforces our leadership position as a provider of factoring and asset-based lending to the Quebec market. The profile and quality of the acquired assets fits perfectly into our current portfolio."
About Accord Financial Corp.
Accord is a leading North American provider of factoring and other asset-based financial services, including financing, credit investigation and guarantees, collection services, and supply chain financing for importers. Accord has been in business for over 35 years and operates out of two offices in Canada and one in the USA. The Company is currently the only factoring and asset-based lending company listed on the Toronto Stock Exchange. For further information please visit www.accordfinancial.com or contact:
SOURCE Accord Financial Corp.For further information:
Vice President, Chief Financial Officer
Accord Financial Corp.
77 Bloor Street West, Suite 1803
Toronto, Ontario M5S 1M2
(416) 961-0304 Ext. 207