Accord Financial Corp. announced yesterday that its factoring subsidiary Montcap Financial Corp. has entered into a customer referral program with Scotiabank that will offer businesses across Canada greater access to financing as well as to additional products and services. Under the agreement, both companies now have the opportunity to refer existing or prospective customers to each other.
Scotiabank will refer commercial customers who do not meet their lending criteria to Montcap to obtain alternative or additional financing through Montcap's factoring and asset-based lending services.
Montcap will refer to Scotiabank businesses which might qualify for conventional lines of credit or would benefit from cash management services and other Bank products that Montcap may not offer.
