VIVA Finance secures $150 million credit facility

VIVA Finance , an Atlanta-based fintech offering payroll-linked personal loans, has secured a $150 million credit facility from Viola Credit to expand its lending operations.

The company bases loan approvals primarily on employment information and links repayments to borrowers’ direct deposits. It targets consumers underserved by traditional credit scoring and banking platforms.

VIVA offers unsecured personal installment loans of up to $15,000, with repayment terms of up to 36 months and APRs ranging from 11.99% to 35.99%, including applicable fees. Loans are originated by Thread Bank, DR Bank or VIVA Finance.

The facility follows distribution partnerships with companies including Paychex and BenefitHub.

Viola Credit is a global credit asset manager with $5 billion in assets under management, providing asset-based lending and growth capital to fintech, proptech and insurtech companies.