Oportun, a mission-driven FinTech company, today revealed the successful amendment and extension of its longstanding warehouse facility.
The facility has now a total commitment of $306m, with Goldman Sachs continuing as the senior lender and Jefferies participating as the mezzanine lender. These firms have been longstanding, existing lenders to Oportun, underlining their continuous support.
The newly secured funds amounting to $306m will be managed under a new two-year revolving period. This funding is secured against Oportun’s diverse portfolio, including unsecured and secured personal loan originations.
Oportun is recognized for its comprehensive financial services that aim to make members’ financial goals achievable. The company offers intelligent solutions in borrowing, savings, and budgeting, thus empowering its members to build a more secure financial future.
Oportun has made a significant impact since its inception, providing over $18.7bn in responsible and affordable credit, and saving its members upwards of $2.4bn in interest and fees.
Oportun Chief Financial Officer Jonathan Coblentz commented on the extension,This warehouse facility extension expands on Oportun’s longstanding lending relationships.
“With the support of our lenders at Goldman Sachs and Jefferies, this committed financing will help drive Oportun’s responsible growth in the years ahead.”
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