Haversine Funding recently closed the following transactions:
- A $1.75 million junior secured lender finance line of credit to support expected growth of a transportation factor in the Midwest. The factor, which has been a Haversine partner for more than two years, collaborated closely with the Haversine team to establish ongoing metrics, enhance policies and processes, and streamline reporting. Additionally, Haversine facilitated the factor’s introduction to a specialized transportation and lender finance bank, enabling it to secure a new line of credit. As part of this success story and transition, Haversine reduced its original $10 million senior line of credit to a reduced facility, subordinate to the bank lender.
- A $25 million senior lender finance line of credit to a factor and asset-based lender. This credit facility also includes a supplemental “gap” funding line, with advances up to 95% of eligible loans. The finance company has been with Haversine for almost three years, during which time the company has consistently strengthened its team and funding platform. As a result of the company’s growth trajectory, Haversine recently increased its credit facility to $25 million, reinforcing its commitment to fueling the lender’s ongoing success and expansion.
- $5 million of a $20 million asset-based lending participation to an infrastructure services business.
- A $1 million senior secured lender finance line of credit to a transportation factoring company in the Southeast.
- A $50 million lead line referral introducing the placement for a senior secured revolving warehouse line of credit for a tax credit preparation and advisory company. The company focuses on servicing the employee retention credit program targeting businesses across the United States.
_x000D_
_x000D_
_x000D_
_x000D_
_x000D_
