Business

TIMIA Capital Provides Corporate Update

TIMIA Capital Provides Corporate Update Canada NewsWire VANCOUVER, BC, June 8, 2...

articleMontfort Capital CorpJune 8, 20203/company/montfort-capital-corp/news/timia-capital-provides-corporate-update
TIMIA Capital Provides Corporate Update

About this update from Montfort Capital Corp

[{"type":"text","content":"\n\n\n\nTIMIA Capital Provides Corporate Update\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, BC, June 8, 2020\n\n\n\n~Update focuses on portfolio performance and 2020 plans for growth~\n VANCOUVER, BC, June 8, 2020 /CNW/ - TIMIA Capital Corporation (\"TIMIA\" or the \"Company\") (TSXV: TCA) today announced a corporate update on the performance of its portfolio of investments, and key priorities for 2020.\nPortfolio Health During Economic DownturnTIMIA has continued to monitor the health of its portfolio, including reviewing monthly performance results and updated cash plans for each company.  Throughout the portfolio, TIMIA has seen management teams pro-actively managing cash resources via cost cutting and accessing government programs where appropriate.  TIMIA's portfolio of recurring revenue software companies has generally seen slowing growth in new customer sales but has not seen significant declines in month to month existing subscription revenues.   The TIMIA team has not seen any defaults in its portfolio and will continue to proactively monitor these companies as the recovery continues.\n2020 PlansFor the period from 2016 through 2019, TIMIA has seen a 75% annual  increase in loans disbursed.  TIMIA continues to actively invest through the economic downturn in both new and existing companies with year to date disbursements of $4.4M into 3 new companies in addition to disbursements of $1.8M into existing investments.   The total disbursements of $6.2M year to date put TIMIA on track to exceed the total disbursements of $13.1M in 2019 despite the challenging economic circumstances driven by the covid-19 pandemic.  \n\"This year is off to a great start and we have exciting plans for the remainder of 2020,\" said Mike Walkinshaw, President & CEO of TIMIA Capital. \"We've built a strong foundation with our fintech platform and resources to fund growing companies in an underserved market. We'll continue to prudently manage our capital and portfolio of...

More updates from Montfort Capital Corp