BRIVA offers short-term financing to businesses allowing timely completion of their projects
Montréal, February 5, 2020 – 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:
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Secure an acquisition so the purchaser can subsequently obtain longer-term
financing;
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Meet an additional temporary need for working capital to execute a specific
contract or make an equity injection; or
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Repurchase shares of a shareholder.