Quasar Capital Secures $12.5 Million Subordinate Debt Facility to Propel Growth
Austin, TX, February 29th, 2024 – Quasar Capital Partners, a leader in diversified asset-based lending and factoring solutions, is thrilled to announce a new chapter in its growth story with the closure of a $12.5 million subordinate debt facility. This strategic financial injection complements our robust $40 million senior facility, signalling a new era of growth and opportunity for Quasar Capital.
The acquisition of this latest funding from Haversine is a testament to a profound partnership based on mutual trust, unwavering support, and deep respect. Since the very beginning, Haversine has been a foundational pillar in Quasar Capital's narrative, playing a critical role in our evolution and success.
Brian Center, Partner at Quasar Capital, shares his heartfelt gratitude towards Haversine's unwavering support: "Haversine's contribution to our journey has been transformative. They've been with us since day one, guiding, advising, and believing in our vision. Their involvement has been nothing short of revolutionary, providing us with the insights and counsel needed to navigate crucial decisions and seize opportunities."
Sam Tork, Partner at Quasar Capital, added, "The people at Haversine are the best in the business. Honestly, there would be no Quasar without the support and involvement of Gen, Cheryl, and the entire Haversine team. They have made it possible for us (Quasar) to focus on our primary goal of improving the lives of others… from our clients and referral sources to our employees."
This latest milestone is more than just a financial achievement; it's a reaffirmation of Quasar Capital's mission to enhance and empower the businesses we serve, facilitated by the enduring support and partnership of Haversine.
About Quasar Capital Partners
Quasar Capital is a leader in providing specialized small business invoice factoring, asset-based lending, and cash flow lending solutions. We are committed to our mission of making businesses better by offering customized financial solutions tailored to the specific needs of small businesses across the United States and Canada, with facilities reaching up to $20 million.
At Quasar Capital, we understand the unique challenges faced by small businesses. We aim to deliver stability and confidence, ensuring our clients can focus on what they do best — driving growth, fostering success, and positively impacting the lives they touch every day.
About Haversine
Haversine Management and its subsidiaries, headquartered in Dallas, Texas, provide fast, fair and flexible funding solutions to commercial lenders. Formed in 2018 with dedicated support of Halstatt, a family office headquartered in Naples, Florida with a 100+ year history, 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. To learn more about Haversine, visit HaversineFunding.com. Be sure to look for ‘OnDeck with Haversine’ as well, a limited series podcast dedicated to specialty finance and private credit.