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TIMIA Increases Investment Capacity with $7.5 Million Credit Facility While Reducing Cost of Capital
TIMIA Increases Investment Capacity with $7.5 Million Credit Facility While Reducing Cost ...
About this update from Montfort Capital Corp
[{"type":"text","content":"\n\n\n\nTIMIA Increases Investment Capacity with $7.5 Million Credit Facility While Reducing Cost of Capital\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\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, Nov. 25, 2019\n\n\n\nVANCOUVER, Nov. 25, 2019 /CNW/ - TIMIA Capital Corporation (\"TIMIA\" or the \"Company\") (TSX-V:TCA/OTC: TIMCF) announced that it has entered into a $7.5 million credit facility with Turnham Green Investments Inc. of Vancouver, BC. The one year term includes an additional 3 month extension and supports TIMIA's future investments into growing SaaS companies in North America with the expectation that 50% of funding for such new investments will be funded from the credit facility (\"advance rate\") and the remaining 50% will be funded from TIMIA's balance sheet. This new facility and its advance rate, combined with capital from TIMIA's own balance sheet, provides for new capacity of up to $15 million in financing for growing software companies.\n\"This credit facility provides the non-dilutive flexibility to cost effectively build our investment portfolio,\" said Mike Walkinshaw, CEO of TIMIA. \"With the addition of this lower-cost capital, we can accumulate and warehouse additional investments and look for other non-dilutive opportunities, such as Limited Partnerships, to continuously maximize the credit facility.\"\nTIMIA has developed a proprietary, scalable, technology-driven fintech platform targeting higher risk-adjusted returns on its finance solutions, creating value for shareholders, and leveraging its non-dilutive capital structure. \nThrough its fintech platform, TIMIA continuously seeks new and exciting investments in the software as a service or SaaS industry. Under TIMIA's revenue-based financing model, TIMIA advances capital to a SaaS business with a recurring revenue stream that allows the portfolio company to make monthly payments to TIMIA that are a combination of principal and interest with a repayment schedule sculpted to the portfolio company's revenue streams. The amounts advanced are secured and may be repaid early.  The Company expects...