EL PASO, Texas - December 1, 2022 - (Newswire.com)
Viva Capital Funding, LLC ("Viva"), a leading invoice factoring specialty finance company, today announced the closing of $85.0 million in two bank credit facilities; consisting of $45.0 million for factoring and $40.0 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 over $2.5 billion in receivables from customers nationwide.
"We greatly appreciate the confidence and strong support of our bank lending partner," said Viva's President, Greg DiDonna. "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."
Michael Marshall, Director of Finance at Viva, added, "The Company continues to take proactive steps to improve our balance sheet. 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, LLC served as the Company's Exclusive Financial Advisor and Placement Agent on the transaction.
About Viva Capital Funding, LLC:
Viva Capital Funding, LLC is a specialty finance company providing simple, fast and reliable financing solutions across a diverse range of industries throughout the United States. Headquartered in El Paso, Texas, the Company offers factoring, reverse factoring and land banking services while maintaining the highest standard of performance, ethics and integrity. With over 100 years of combined finance and accounting experience, Viva's team has funded over $2 billion in the transportation industry alone since inception. For more information, please visit http://www.vivacf.net.
Contact Information:
Armando Armendariz
Director Of Business Development
factoring@vivacf.net
915-615-6664
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Original Source: Viva Capital Funding Closes $85.0 Million in Bank Credit Facilities
