VIVA Finance closes $150 million credit facility with Viola Credit
The Atlanta-based fintech says the facility will support expansion of its payroll-linked consumer lending platform for workers who may be underserved by traditional credit products.
VIVA Finance announced October 20 that it had closed a $150 million credit facility with Viola Credit, a global alternative asset manager. VIVA said the capital will support the expansion of its payroll-linked consumer lending operations.
VIVA connects its lending platform to employee direct-deposit systems and markets personal loans to workers, including borrowers who may have limited access to conventional credit. Payroll-linked repayment can give a lender a recurring income signal, but it does not eliminate affordability, employment or repayment risk for the borrower.
The facility gives VIVA additional funding capacity rather than representing a new consumer loan product or a guaranteed change in loan pricing. The rate, term, eligibility rules and total repayment obligation for an individual borrower remain product-specific.
VIVA did not disclose facility pricing, a precise deployment schedule or a forecast for incremental originations in the announcement. The $150 million figure is the announced credit facility, not a projection of revenue or consumer savings.