Viva Capital Funding, an invoice factoring specialty finance company, closed $85 million in two bank credit facilities; consisting of $45 million for factoring and $40 million for land banking. This transaction follows a successful $18.5 million investment-grade rated corporate note financing completed by the company in June 2022. Proceeds from the new facilities will be used by Viva for general corporate purposes and to support continued growth of the business.
Since inception, Viva has purchased more than $2.5 billion in receivables from customers nationwide.
“We greatly appreciate the confidence and strong support of our bank lending partner,” Greg DiDonna, president of Viva, said. “The closing of these new credit facilities provides the company significant flexibility to capitalize on opportunities we are seeing in the market and to further accelerate our core strategy – offering small business clients throughout the U.S. simple, fast and reliable funding solutions.”
“The company continues to take proactive steps to improve our balance sheet,” Michael Marshall, director of finance at Viva, said. “As we drive to execute our strategic growth initiatives, these credit facilities provide additional liquidity and further help to reduce our cost of capital.”
Brean Capital served as the company’s exclusive financial advisor and placement agent on the transaction.
