OppFi Inc. announced it has closed a new $150 million revolving credit facility with funds managed by Castlelake L.P., replacing a prior facility. This new facility has a four-year term.
The transaction represents a significant improvement in financing costs for OppFi, with a reduction in the interest rate from SOFR + 7.5% to SOFR + 6.0%. This is expected to improve the company's overall financial performance.
The credit facility is designed to support the company's ongoing growth in receivables and further its mission of providing credit access to underserved Americans. Management believes this transaction is a testament to the strength and durability of its business model.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.