The Haversine Difference: What You Can Expect from Us

The haversine formula is used to determine the most direct route between point A and point B. It’s that mindset that drives our business and embodies our values.

The Haversine Funding team has, collectively, decades of experience in the business and a solid reputation in the industry. We’ve worked hard to establish our track record and grow our portfolio, but most importantly, everything we do for ourselves, we do for our clients.

We’re here for the entrepreneurial factor or lender who wouldn’t be able to grow their platform without the speed, support, and efficiencies provided by Haversine – for the factors and lenders with a limited operating history who aren’t yet ready for a traditional bank line of credit. And, together, because of their expertise combined with our financing, they can access that lower cost of funds from a bank seeing greater profitability faster.

We’re here for the factors and lenders who wouldn’t be able to “win” a larger client, as we can quickly jump in and participate in those larger deals, helping co-underwrite and bearing some of the risk burden, reducing their exposure.

We’re here for the factors and lenders who wouldn’t be able to acquire another competitor or portfolio in the marketplace without other, creative financing solutions – where we can also help structure and walk through the numbers, share in the due diligence efforts, and provide financing for the portfolio or equity when needed.

Yes, we are one of the only lender finance providers that can provide funding for various commercial lenders in any stage of growth. But, what makes us even more unique and different than any other lender is the collective expertise and advisory services we offer to our network of lenders – the day-to-day support that defines their route to success. This is what sets us apart. It’s what you can count on by choosing our team. With Haversine, you can leverage not only our funding but our expertise in:

·      Operational process flow and consulting

·      Policies and procedures assistance

·      Key performance indicators and metric implementation

·      New business referrals

·      Industry trends and comparisons

·      Educational features for your team

·      Report writing

·      And so much more!

Take a look at this success story from one of our clients.

The Opportunity

This transportation factor changed their lender finance partner looking to upgrade their senior line of credit moving to a larger bank, increasing the bank line from $15 million to $25 million. This increase in their line required more subordinated debt and the owners of the factor approached Haversine to help provide an additional layer of junior capital starting at $3 million.

The Solution

Haversine was able to provide immediate funding in the form of junior capital with their existing bank, which helped lessen the stress of building the portfolio quickly while simultaneously searching for a new banking partner. And, through the process, Haversine was able to introduce the factor to a few, select bank lender finance groups for additional options in their search process.

The Win

The factor ended up with...

·      Access to faster capital during a time of rapid growth in the transportation sector,

·      A more competitive senior line structure with a banking partner,

·      A larger line,

·      A lower cost of funds, and

·      A long-term institutional subordinated debt lending relationship with Haversine.

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A Word from Our Client

“Thank you for being so great to work with and being willing to think “out of the box” to find a solution.”

- Owner, Transportation Factor

Have a potential need and want to know more about how we can help you grow your financing platform? Reach out to us today. We can’t wait to see what we can achieve together!