Business
Varion Capital Accelerates Service to Equipment Dealers
VANCOUVER , Sept. 22, 2014 /CNW/ - Varion Capital Corp. ("Varion"), a subsidiary of Ac...
About this update from Accord Financial Corp.
[{"type":"text","content":"\n\n\nVANCOUVER, Sept. 22, 2014 /CNW/ - Varion Capital Corp. (\"Varion\"), a subsidiary of Accord Financial Corp.\n (\"Accord\") (TSX:ACD), today announced a series of strategic\n enhancements to its dealer programs.  The enhancements are designed to\n streamline service, approvals and funding for small ticket transactions\n and position the company to finance larger deals.\n\n\nSince joining the Accord Group in January of 2014, service performance\n has been very strong, with 98% of all credit decisions delivered in\n five hours or less.  \"Our goal is to build on that success and solidify\n our position as Canada's most responsive finance company,\" says James\n Jang, General Manager, \"these enhancements pave the way.\"\n\n\nA full review of the company's small ticket program has led to numerous\n enhancements:\n\n\n\nStandard transactions up to $100,000 no longer require original\n documents and certified initial payments.  Scanned documents are now\n accepted and initial payments will be made electronically from the\n customer's bank account;\n\n\nDown payment requirements have been scaled back to one or two advance\n payments for most credit profiles;\n\n\nOne-third of previous standard credit conditions have been eliminated\n from the process.\n\n\n\nThe entire process is now simpler and faster, enabling same day,\n point-of-sale funding.\n\n\nIn response to demand from key dealer partners, Varion is also now\n financing equipment up to $250,000 in value, with larger deals\n considered in many cases. \"We are committed to increasing our deal size\n targets as the portfolio grows,\" adds Simon Hitzig, Vice President of\n Accord Financial.\n\n\nIn addition to flexible equipment finance, Varion's clients now have\n direct access to more financing options through Accord, including\n supply chain finance, factoring and credit guarantee and collection\n services.  With Varion under the Accord umbrella, the combined\n companies have the financial strength and product range to deliver\n superior service to dealers and their customers from coast to coast.\n\n\nAbout Varion Capital Corp. \nVarion Capital finances equipment for small and medium-sized businesses\n (SMEs), serving a broad base of Canada's most dynamic industries, from\n forestry and energy to hospitality and manufacturing.  The company's\n suc...