Energetic Services, a provider of transportation, environmental and related services to the oil and gas sector across Alberta and British Columbia, transitioned to a bank following three years of collaboration with Accord Financial, which provided the company with a $13 million facility in 2021.
Accord Financial played a pivotal role in providing a comprehensive financial solution to Energetic, including asset-based loans against accounts receivable, equipment and real estate, along with an Accord BCAP loan.
During its time with Accord, Energetic recovered to pre-pandemic levels and also experienced significant growth, making the decision to transition back to conventional banking a natural progression.
“We take pride in our pivotal role during their recovery and growth phases,” Cynthia Aboud, senior vice president of business development of Accord Canada Asset-Based Finance, said. “As they embark on this new chapter, Accord Canada wishes them continued success and growth. Our commitment to innovative financial solutions remains steadfast, and we eagerly anticipate serving and supporting businesses in their financial endeavors.”
“As we transition to a bank, we reflect on the instrumental role Accord Financial played in our evolution,” Brennan Ross, CEO of Energetic Services, said. “Their commitment to innovative financial solutions, coupled with a genuine desire to see businesses thrive, sets them apart. We express our sincere gratitude to Accord Financial and look forward to continued success.”
