Two familiar faces in the Houston financial services industry have formed Briar Capital LP., which focuses on small- and medium-sized enterprises (SMEs) seeking working capital or real estate financing.
The new company's chairman and CEO is Frank Goldberg. Steve Rosencranz is Briar's president and chief operating officer.
Goldberg acknowledges the presence of some strong independent banks in Houston, but he and Rosencranz are happy to focus on the businesses that are not deemed bankable by most commercial financial institutions. "These companies are typically challenged for one reason or another," explains Rosencranz.
One characteristic that Briar feels sets it apart from other so-called "non-bank" finance companies is the diversity of its products. Briar offers inventory financing and accounts receivable financing or factoring and real estate term loans. All three products may be required to create the most effective financing in a single transaction...