Haversine Funding Announces $35 Million in New Lender Finance Loans for Q4 2023

January 2, 2024

Source: Haversine Funding

Haversine Funding announces $35 million in new lender finance loans for the final quarter of 2023. These transactions further underscore Haversine’s commitment to providing comprehensive and tailored solutions to the specialty finance market. These transactions come at a crucial time when many factors and asset-based lenders are seeking additional capital, due to the withdrawal of traditional bank lenders from the market. Haversine’s comprehensive range of financial solutions - from senior lines of credit and subordinated debt to participation funding - has been instrumental in addressing the capital needs of commercial lenders. This flexibility has enabled Haversine to assist lenders in managing concentrations and expanding their business amidst challenging market conditions. The past quarter's transactions include a diverse array of funding solutions across multiple sectors. Here are a few examples:

$4,000,000 factoring participation to bolster the growth of a construction business engaged in developing infrastructure for airports and municipalities.

$15,000,000 senior line of credit for a factoring company specializing in oilfield services.

$2,000,000 ABL (asset-based lending) participation for a healthcare IT services provider, aiding their expansion and growth.

$1,500,000 ABL participation extended to a consulting and IT services provider.

$2,500,000 subordinated debt facility for a rapidly growing asset-based lender.

“Our team's agility in structuring and executing these deals underscores our deep understanding of the specialty finance sector," said Stan Vukmer, CEO and founder of Haversine. "As the landscape evolves, we remain dedicated to supporting our clients’ growth, navigating through market complexities and offering strategic financial solutions.”

About Haversine

Haversine Management and its subsidiaries, headquartered in Dallas, Texas, exist to provide fast, fair and flexible funding solutions to commercial lenders. Formed in 2018, Haversine helps factors, asset-based lenders, inventory, purchase order, equipment and real estate lenders fill funding gaps by providing senior and junior lender finance lines of credit up to $25,000,000, as well as participation program options. In 2022, Haversine also launched Lead Line, a referral, lead generation platform where we help facilitate funding for small and mid-sized businesses within our vast network of lending clients and partners. Whether a specialty finance company looking for capital, a private equity sponsor or private company looking to be connected to the ideal lender, or an investor seeking attractive and uncorrelated risk-adjusted returns, please visit www.haversinefunding.com to learn more. Be sure to look for ‘OnDeck with Haversine’ as well, a limited series podcast dedicated to specialty finance and private credit.