TSL Express Daily News

Haversine Funding announced the following closed transactions

$1,750,000 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 over 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 them 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.

$25,000,000 senior, lender finance line of credit to a factor and asset based lender. This comprehensive 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 they have consistently strengthened their team and funding platform. As a result of their impressive growth trajectory, Haversine recently increased their credit facility to $25 million, reinforcing their commitment to fueling the lender's ongoing success and expansion.

$5,000,000 of a $20,000,000 asset-based lending participation to an infrastructure services business.

$1,000,000 senior secured, lender finance line of credit to a transportation factoring company in the Southeast. 

$50,000,000, 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.  

Haversine Funding provides fast, fair and flexible funding solutions to lenders. Formed in 2018, we help factors, asset-based lenders, inventory, equipment and real estate lenders fill funding gaps by providing senior and junior lender finance lines of credit as well as participation options. In 2022, we also launched Haversine Lead Line, our own referral, lead generation platform for factors and lenders.

Visit us at www.haversinefunding.com to learn more.