Accord Carton: SomerCor SBA 504 Heavy Equipment Feature

Company Profile

Accord Carton is a third-generation, family-owned company. Their mission is to bring customer products to life through unique and attractive packaging. From humble beginnings in 1940, to a state-of-the-art production facility today, their dedication to unparalleled service and craftsmanship remains constant.

The company offers packaging design and manufacturing, automated warehousing, inventory tracking, and shipping for their customers. Accord Carton is the industry standard in packaging for food and beverage, consumer products, systems and machinery, as well as materials requiring specialized coating and adhesives.

SBA 504 Loans with SomerCor

Accord Carton has partnered with SomerCor on four SBA 504 loans since 2004. Their projects include the purchase and renovation of commercial real estate and financing of six pieces of heavy equipment. The SBA 504 program allows for the combination of equipment and commercial real estate purchases in a single loan. The 504 can also be used for equipment only deals, securing a low fixed interest rate like a commercial real estate purchase, but over a 10 year term.

The company’s most recent loan was for the purchase and renovation of a 144,000 SF industrial office/warehouse property and a new machine to support a growing 6 pack carrier product line primarily sold to the beer industry. The total project size was $5,725,525. The purchase of the new facility allowed for the consolidation of operations in Illinois. Instead of renting an additional facility in Grand Rapids, MI, Accord Carton was able to renovate an industrial space tailored to their needs, incur significant savings by not shipping products back-and-forth between locations, and build equity.

“SomerCor has been a key partner when it comes to investing in our business,” said William Codo, Executive Vice President/Chief Financial Officer of Accord Carton and grandson of the company’s founder. “The SBA 504 program gave us access to favorable financing for large scale projects that could not have been possible with conventional financing. We have done both equipment and real estate projects with SomerCor and they have been excellent to work with every time!”

Accord Carton is Open for Business!

Accord Carton is open to serve your packaging needs. Visit https://www.accordcarton.com/ or call (708) 272-3050 to learn more about their offerings.

Download the program flyer and connect with a member of SomerCor’s loan origination team to learn more about how the SBA 504 loan program supports improved cash flow for small businesses.

Margaret Griffin
EVP, Chief Lending Officer
mgriffin@somercor.com
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