What’s in a name? A look at the meaning and vision behind Haversine Funding.
One question we get asked a lot is, “Why Haversine?” In other words, what’s the meaning behind our name? When we first launched in 2018, choosing a name that embodied our company philosophy, and more importantly how we could help our clients, was essential. “Haversine” comes from the mathematical formula that has been historically important in global navigation as it provides the most direct route when traveling great distances. This captures how we work diligently to help our commercial finance clients take the quickest route toward achieving their goals, fulfilling their potential for growth, and expanding their lending platforms. We offer a one-stop solution, providing fast, fair, and flexible funding solutions to the specialty finance space.
Haversine Funding is a direct lender to finance companies – we do not provide factoring or asset-based lending products to small or mid-size companies. Therefore, we are non-competitive in the marketplace. Our focus is on helping specialty finance companies directly by offering three primary products:
(1) participation funding
(2) senior lines of credit
(3) junior capital to factors and lenders.
In some cases, we can also help with equity transactions, management buyouts, or acquisitions.
At Haversine, we’re about efficiency and speed – one of our core values is being responsive. That means getting to a “no” quickly when necessary and getting to a “yes” faster than a traditional lender. Haversine Funding is backed by permanent capital, not subject to redemptions or banking restrictions. This allows us tremendous flexibility to provide consistent funding when others cannot. Our structure allows us to remove the multiple layers of red tape that can sometimes slow down the closing and funding process.
We are only successful when our clients achieve success. As a partner, we can help review deals, implement metrics and processes, and provide insight and feedback on industry trends. We work together to reduce the cost of funds over time, through us or with one of our bank partners. And, more importantly, because of our industry expertise, we understand the varying situations that can arise while growing your financing platform.
Ultimately, our goal is to help you get where you are going as quickly as possible – just like the haversine formula. We help you take the most direct path to success. Do you have goals you want to achieve in 2022? Contact us today and let’s talk!