Haversine Funding announced the closing of the following transactions:

• $3,000,000 participation in a medical receivables asset based loan for an infusion pharmacy going through a management buyout and needed capital to execute on the transaction. The medical asset-based lender brought in Haversine Funding as part of their funding strategy to reduce concentrations and exposure in the portfolio. Their expertise in this segment of the market, their prior history with this client and the collateral and financial performance of the client itself helped to create a fast funding solution for the lead lender.

• $150,000 factoring participation in a telecommunications infrastructure services firm. The company was gearing up for new orders in 2021 and needed a working capital facility to access funds to meet payroll and vendor obligations. As a recently launched factoring company, the lead factor approached Haversine Funding as part of their funding strategy. The lead factor and Haversine worked together quickly to review, approve and fund the transaction, meeting the fast timing deadline needed by the company.

• $1,000,000 subordinated debt facility to support the growth of a staffing factor who experienced growth recently due to various nurse staffing and cleaning service clients in which they specialize. The factor was seeking a more institutional firm who understood the nuances of factoring, could grow with them, and was comfortable in a junior, subordinated position to their bank line of credit. Haversine Funding was able to help, structuring a facility that was revolving in nature to maximize their working capital needs and manage their cost of funds.

• $5,600,000 senior secured funding for a commercial real estate loan to a sawmill located in the Southwest. Haversine Funding was able to help this real estate lender refinance the loan while providing additional cash to the borrower to expand their facility.