Fonds de solidarité FTQ has committed $20 million to Briva Finance lending fund.
Launched by Jacques Marchand in November 2018, the fund offers qualified borrowers short-term loans for their business activities or for growth. Briva’s clientele mostly consists of SMEs with revenues of more than $10 million dollars, encompassing all sectors.
Investors in Briva Finance fund include family offices and private investors.
photo credit: Briva Finance
Fonds de solidarité FTQ Invests $20 Million in BRIVA FINANCE
BRIVA offers short-term financing to businesses allowing timely completion of their projects
MONTRÉAL, Feb. 5, 2020 /CNW Telbec/ – Following a career spanning more than 25 years working for financial institutions and private equity funds where he developed expertise in business financing and development, Jacques Marchand launched BRIVA FINANCE in 2018. Based in Montréal, the company offers short-term or interim financing. BRIVA’s clientele mostly consists of SMEs with revenues of more than $10 million dollars, in all economic sectors.
To support the growth of BRIVA and enhance the financing offer to SMEs, the Fonds de solidarité FTQ is investing $20 million in the company.
“Founded in 2018, BRIVA is booming thanks to the experience and expertise of its team and the growing demand of entrepreneurs for private, alternative financing,” said Janie Béïque, Executive Vice-President, Investments, at the Fonds de solidarité FTQ. This new investment by the Fonds will allow BRIVA to better meet SME needs for short-term financing of their projects.”
For his part, Jacques Marchand, founding President of BRIVA FINANCE, added, “Business leaders need lenders that can help them in temporary and time-sensitive situations. One of the most important elements in the life cycle of a business is having access to financing at the right moment. We offer businesses in need of short-term additional support with financing adapted to such temporary situations.”
Features of the BRIVA solutions include:
Financing subordinated to existing loans;
Minimum financing of $1 million;
Term from 3 to 12 months;
Interest payable monthly; and
Principal payable at maturity.
BRIVA interim loans may be used to:
Secure an acquisition so the purchaser can subsequently obtain longer-term financing;
Meet an additional temporary need for working capital to execute a specific contract or make an equity injection; or
Repurchase shares of a shareholder.
About the Fonds de solidarité FTQ
The Fonds de solidarité FTQ is a capital development fund that channels the savings of Quebecers into investments. With $16.7 billion in net assets as at November 30, 2019, the Fonds has helped create and protect more than 215,000 jobs. The Fonds has over 3,100 partner companies and more than 700,000 shareholders-savers.
SOURCE BRIVA FINANCE
For further information: for media representatives only: Jacques Marchand, President, Briva Finance, Telephone: 514 973-6457, Email: email@example.com; Patrick McQuilken, Senior Advisor, Media Relations and Communications, Fonds de solidarité FTQ, Telephone: 514 850-4835, Email:firstname.lastname@example.org
- Fairfax controlled Boat Rocker Media files for IPO on TSX - February 12, 2021
- DRI Healthcare Trust files for US $400M IPO and con-current private placement - February 10, 2021
- Fairfax controlled Farmers Edge files for $100M IPO on TSX - February 9, 2021