EL PASO, Texas, June 14, 2022 (GLOBE NEWSWIRE) -- Viva Capital Funding, LLC ("Viva"), a leading invoice factoring specialty finance company, announced today the closing of $18.5 million of Senior Secured Notes to a group of institutional investors. The transaction was assigned a BBB rating by a nationally recognized statistical ratings organization. Proceeds will be used by the company 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," said President, Greg DiDonna. "We have purchased over $1 billion in receivables and more than doubled our revenue over the last 5 years. This new capital will allow us to continue to provide financing to our small business clients and expand our market share."
Michael Marshall, Director of Finance at Viva, added, "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."
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, TX, 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 $1 billion in the transportation industry alone since inception. For more information, please visit: http://www.vivacf.net
Contact:
Armando Armendariz
915-615-6664
factoring@vivacf.net
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