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Clearline Chartered Professional Accountants is a full-service accounting, taxation and advisory firm that services the Lower Mainland, with offices in Vancouver, Burnaby, Surrey, and North Vancouver. Their expert team delivers integrated audit, tax and financial advice to businesses and personal clients, helping them take control of their finances and reach their goals.
Issue
Clearline had multi-faceted needs and goals that required financing, including the desire to have capital readily available to build their client base through acquisitions. They saw ample acquisition prospects on the horizon, but needed flexible funds at hand to respond quickly when the right opportunity arose. At the same time, they were limited by their existing banking relationship, as they experienced staff turnover and a lack of forward momentum. They were referred to Ashdown Capital by a past colleague who recognized our ability to match them with the financing partner and products required to pursue the work at hand.
Solution
We got right to work analyzing Clearline’s financial position, needs and opportunities. We used this understanding to package and convey their strong financial position and professional capabilities to the banks. This approach resulted in strong buy-in from several financial institutions, and an acquisition loan credit offering by their new lender, with very few disbursement or funding conditions. In addition to the acquisition financing, we also secured operating loans at a reduction of 1%-1.50% in pricing from their existing bank. Clearline now benefits from maximum flexibility when an acquisition opportunity arises, as well as reduced lending costs.
Client Testimonial
“Kern was able to find us a financing deal that surpassed our expectations and was a significant improvement over our previous terms including the amortization period, financial covenants and interest rates. Our previous bank made the transition difficult with numerous delays and Kern was patient and helped us through it all. As business accountants we are often surprised that our clients do not try to negotiate better terms on their financing and take whatever their current bank offers them. We recommend Ashdown to all of our clients that are looking for better ways to finance their businesses as we know that they will help them find and negotiate a better package. We look forward to a long and mutually beneficial relationship with Kern and the rest of the team at Ashdown.” – Tom Gillespie, CPA, CA, Partner, Clearline CPA
Services Used