Oportun's $306 Million Facility Extension: Fueling Growth and Responsible Credit

Oportun (Nasdaq: OPRT), a mission-driven financial services company, recently announced the closing of an amendment and extension to its long-term warehouse facility. This strategic move not only secures a significant funding source but also diversifies Oportun's capital portfolio, enhances its credibility, and supports its mission to provide responsible and affordable credit to its members.

The extended $306 million commitment from Goldman Sachs and Jefferies, both existing, longstanding lenders to Oportun, signifies a vote of confidence in the company's growth prospects and financial stability. This facility extension allows Oportun to manage its liquidity and cash flow more effectively, thanks to the new two-year revolving period. This period provides Oportun with the flexibility to meet its financing needs, ensuring a steady stream of capital to support its expansion plans.

The involvement of Goldman Sachs and Jefferies, two prominent financial institutions, further enhances Oportun's credibility in the financial community. Their continued support underscores Oportun's strong financial position and commitment to responsible lending practices. This facility extension aligns with Oportun's mission to empower members with responsible and affordable credit, enabling the company to continue providing financial services that improve the financial well-being of its members.