nFusion Capital, a commercial finance company for entrepreneurs, has increased its junior capital credit facility to $17.5 million with Haversine Funding. The enhancements to its capital structure will support its exponential portfolio growth.
nFusion and Haversine have worked together over the last four years as nFusion expanded its product offerings and built its portfolio, credit and business development teams. Haversine’s subordinated debt facility with nFusion was initially $2 million, expanding to $12.5 million before the recent increase to $17.5 million.
“We have a wonderful relationship with Haversine,” Jason Lippman, CEO of nFusion Capital, said. “This additional capital will accelerate our growth journey, and we are grateful for their trust and commitment. The Haversine facility will also allow us to better manage capital usage and our business’s cash fluctuations.”
“We’ve been proud partners with nFusion Capital for almost four years, witnessing firsthand their impressive growth and commitment to small and mid-sized companies nationwide,” Gen Merritt-Parikh, president of Haversine, said. “This increased facility reflects our confidence in their team and strategy, and we are very excited to continue supporting their journey.”
“Working with an entrepreneurial company like nFusion is exciting,” Cheryl Mayo, senior director and portfolio manager of Haversine, said. “Their energy, innovation and drive to succeed create a dynamic and rewarding partnership.”
