Case Studies: AccordAccess in Action

Case Study: TopLine Hardware Products*
Challenge: Finance the purchase of heavily discounted out-of-season goods
Solution: AccordAccess 6 month loan with weekly repayment

TopLine imports and distributes a variety of products sold through independent hardware stores across Canada. Their customers rely on them to provide cost-effective products to allow local hardware stores to compete with big-box competitors. Access to a diverse range of goods is important, but so is price. In April, TopLine had an opportunity to buy a large container of snow shovels at a heavily discounted price. The shovels take up space in the warehouse until next fall, but once winter arrives the lower price will make customers happy and bolster TopLine's profits through the winter season. The challenge is to find the $15,000 cash to buy the shovels. AccordAccess solves the problem, spreading weekly repayments over a six month period. The loan is paid off before the first snow, giving TopLine a strong profit boost as winter rolls in.

*The actual company name has been changed to protect privacy.


Case Study: BestWood Transport*
Challenge: Down payment for a new truck
Solution: : AccordAccess 12 month loan with weekly repayment

BestWood's fleet of trucks are used to transport logs from northern BC to several mills in the south. The company's great reputation has allowed them to win a new contract from one of BC's top pulp and paper processors. So they're shopping for a new log loader to handle the increased volume. BestWood can easily manage the lease payment with income from the new contract, but they don't have $25,000 needed for the down payment. AccordAccess solves the problem with simple weekly payments over a twelve month period. With the new truck BestWood's revenue and profits are growing. And once the AccordAccess loan is paid off, profits will grow even more.

*The actual company name has been changed to protect privacy.


Case Study: Dr. A., DDS*
Challenge: Manage professional practice cash flow while dealing with divorce settlement
Solution: : AccordAccess 18 month loan with weekly repayment

Dr. A operates a family dental practice in the suburbs of one of Canada's major cities. With 11 years of experience as a successful practitioner, Dr. A. had long since become adept at managing his way through the seasonal variations in his practice.
However, Dr. A.'s practice had suffered due to the time commitments he had to make to finalize his divorce. In addition to having reduced hours to focus on the practice, he also found himself in the situation of having to maintain or increase his draws in order to meet obligations related to the divorce settlement that was in process. With his divorce settled and his renewed ability to focus on maintaining and growing his practice, Dr. A took out an AccordAccess loan for $50,000 for eighteen months. He was able to re-establish his supplies for his practice, internally finance more work pursuant to insurance benefit programs, and market to attract new patients. When all was said and done, he had no problems paying off their AccordAccess loan, and his practice has been growing ever since.

*The actual practice name has been changed to protect privacy.


Case Study: Bill S., LLB, Independent Litigation Counsel, Lawyer
Challenge: Finance Litigation Files/Work in Process and New Office
Solution: : AccordAccess 12 month loan with weekly repayment

Bill S. is an experienced litigation lawyer who recently decided to open his own independent office after several years working in a larger firm. He was able to quickly generate active files in his preferred area of practice, litigation. His challenge was managing the working capital required to manage new client files while paying his staff and the overheads associated with the new office.
Bill took out an AccordAccess loan for $35,000. These funds, along with retainers from his clients, provided him with sufficient additional working capital to properly attend to files, and bring some to resolution, bridging the major gap in his cash flow. His office is now well established and he occasionally re-advances his AccordAccess loan facility to take on longer, more complicated, more profitable engagements.

*The actual company name has been changed to protect privacy.


Case Study: Scoopz Ice Cream*
Challenge: Manage cash flow through seasonal slowdown
Solution: : AccordAccess 12 month loan with weekly repayment

Scoopz is an ice cream parlour downtown in one of Canada's major cities. As part of a national franchise, they had everything in their business running well - strong customer service, met the franchisor's requirements for quality and cleanliness, and were doing well financially through the peak months. Their location is on one of Canada's busiest foot-traffic shopping corridors.
The business has been successful, but like many businesses, the operators were finding they were hitting a cash f low "crunch" in the late spring. The slower winter months combined with a longer, rainier than normal spring, reduced pedestrian traffic substantially. The franchise operators took out an AccordAccess loan for $15,000 for six months. They were able to work their way through the rainy weather with less stress, maintain their valued staff, and wait for the sunny spring and summer weather to arrive. When it did, they had no problems paying off their AccordAccess loan, and they've been growing ever since.

*The actual company name has been changed to protect privacy.


Case Study: Best Hotels*
Challenge: Financing Small Renovations and Furniture/Fixture Replacements
Solution: : AccordAccess 12 month loan with weekly repayment

Best Hotels operates a hotel along a major thoroughfare in a smaller community of about 10,000 people. The hotel, part of one of the value chains, is a frequent stopover destination for travelers between two of Canada's major cities.
The hotel operator needed to complete some minor renovations to the lobby area and replace some of the furniture in the rooms. The hotel was showing some wear and tear after a busy summer season, and the operator was concerned about maintaining the image of the property. At the same time, he didn't want to try and remortgage the property as the overall amount of capital he required was fairly small. He took out an AccordAccess loan for $35,000 for 12 months. This allowed him to replace some of the furniture and fixtures, and do a minor renovation of the lobby area. Now the hotel looks back up to the owner's standards, and there's no fear of losing customers to the competitor chains down the road due to the appearance of wear and tear.

*The actual company name has been changed to protect privacy.