Viva Capital Funding, an invoice factoring specialty finance company, closed $18.5 million of senior secured notes to a group of institutional investors. A statistical ratings organization assigned the transaction a BBB rating. Viva Capital Funding will use the proceeds to restructure existing debt and support additional growth of the business.

“This financing positions Viva to tackle new markets and take the next step in our growth plans,” Greg DiDonna, president of Viva Capital Funding, said. “We have purchased over $1 billion in receivables and more than doubled our revenue over the last five years. This new capital will allow us to continue to provide financing to our small business clients and expand our market share.”

“This transaction streamlines our capital structure and reduces our cost of capital to support capitalizing on new business opportunities available to Viva in today’s market,” Michael Marshall, director of finance at Viva Capital Funding, said.

Brean Capital served as Viva Capital Funding’s exclusive financial advisor and placement agent on the transaction.