Trending...
- IRF Builders Forum Brings Global Leaders to Washington, D.C. to Advance Religious Freedom Through Cooperative Engagement
- Mortgage Rates And Demand Are Stuck In A Holding Pattern
- This Ain't Press. This Is Pressure — Star Command by RansomXX is Out Now
CHICAGO--(BUSINESS WIRE)--OppFi Inc. (NYSE: OPFI) ("OppFi" or the "Company"), a leading financial technology platform that powers banks to help the everyday consumer gain access to credit, today announced the Company has more than doubled one of its existing credit facilities with affiliates of Atalaya Capital Management LP ("Atalaya") to $200 million.
"We have been experiencing record consumer demand and opportunistically expanded our funding capacity to support our focus on profitable growth," said Todd Schwartz, Chief Executive Officer and Executive Chairman of OppFi.
OppFi increased its capacity under this credit facility from $75 million to $200 million. The expanded commitment, together with an extended three-year maturity, will be utilized to further fund receivables growth, as well as to refinance existing debt under one of the Company's other credit facilities.
"Inflationary pressures are challenging consumers and affecting their ability to manage financial emergencies," said Vasili Gerogiannis, Chief Capital Officer of OppFi. "As a result, we're very pleased to strengthen our relationship with Atalaya, as this upsized credit facility enables us to accommodate increased demand."
About OppFi
OppFi (NYSE: OPFI) is a leading financial technology platform that powers banks to help the everyday consumer gain access to credit. Through its unwavering commitment to customer service, the Company supports consumers, who are turned away by mainstream options, to build better financial health. In 2021, OppFi was recognized by the Deloitte North America Technology Fast 500 for the fourth consecutive year. OppFi maintains a 4.7/5.0 star rating on Trustpilot with more than 3,000 reviews and an A+ rating from the Better Business Bureau (BBB), making the Company one of the top consumer-rated financial platforms online. For more information, please visit oppfi.com.
More on illi News
Forward-Looking Statements
This press release includes "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. OppFi's actual results may differ from its expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as "expect," "estimate," "project," "budget," "forecast," "anticipate," "intend," "plan," "may," "will," "could," "should," "believes," "predicts," "potential," "possible," "continue," and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. These forward-looking statements include, without limitation, OppFi's expectations with respect to the future performance of OppFi's platform and OppFi's expectations for its growth. These forward-looking statements are based on OppFi's current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Most of these factors are outside OppFi's control and are difficult to predict. Factors that may cause such differences include, but are not limited to: the impact of COVID-19 on OppFi's business; the impact of stimulus or other government programs; the effects of inflationary pressures; whether OppFi will be successful in obtaining declaratory relief against the Commissioner of the Department of Financial Protection and Innovation for the State of California; whether OppFi will be subject to AB 539; whether OppFi's bank partners will continue to lend in California and whether OppFi's financing sources will continue to finance the purchase of participation rights in loans originated by OppFi's bank partners in California; the risk that the business combination disrupts current plans and operations; the ability to recognize the anticipated benefits of the business combination, which may be affected by, among other things, competition, the ability of OppFi to grow and manage growth profitably and retain its key employees; risks related to new products; concentration risk; costs related to the business combination; changes in applicable laws or regulations; the possibility that OppFi may be adversely affected by other economic, business, and/or competitive factors; risks related to management transitions; and other risks and uncertainties indicated from time to time in OppFi's filings with the United States Securities and Exchange Commission, in particular, contained in the section or sections captioned "Risk Factors." OppFi cautions that the foregoing list of factors is not exclusive, and readers should not place undue reliance upon any forward-looking statements, which speak only as of the date made. OppFi does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based.
More on illi News
Contacts
Investor Relations: investors@oppfi.com
Media Relations: media@oppfi.com
"We have been experiencing record consumer demand and opportunistically expanded our funding capacity to support our focus on profitable growth," said Todd Schwartz, Chief Executive Officer and Executive Chairman of OppFi.
OppFi increased its capacity under this credit facility from $75 million to $200 million. The expanded commitment, together with an extended three-year maturity, will be utilized to further fund receivables growth, as well as to refinance existing debt under one of the Company's other credit facilities.
"Inflationary pressures are challenging consumers and affecting their ability to manage financial emergencies," said Vasili Gerogiannis, Chief Capital Officer of OppFi. "As a result, we're very pleased to strengthen our relationship with Atalaya, as this upsized credit facility enables us to accommodate increased demand."
About OppFi
OppFi (NYSE: OPFI) is a leading financial technology platform that powers banks to help the everyday consumer gain access to credit. Through its unwavering commitment to customer service, the Company supports consumers, who are turned away by mainstream options, to build better financial health. In 2021, OppFi was recognized by the Deloitte North America Technology Fast 500 for the fourth consecutive year. OppFi maintains a 4.7/5.0 star rating on Trustpilot with more than 3,000 reviews and an A+ rating from the Better Business Bureau (BBB), making the Company one of the top consumer-rated financial platforms online. For more information, please visit oppfi.com.
More on illi News
- Valley Sleep Therapy Expands to Prescott with New Location at Crossings Road
- New Dad Battles Leukemia and Wins!
- Kefir Comes to NASCAR as Lifeway Foods Races into Hometown Weekend with Driver Josh Bilicki at The Loop 110
- Recession-Proof Startups: What Business Plans Investors Are Actually Funding in 2025
- $17.4 Million Total Revenue for First Half of 2025 (up 31.8% YOY) for Global Wet Trades Services Provider with High Value Bitcoin Investments
Forward-Looking Statements
This press release includes "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. OppFi's actual results may differ from its expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as "expect," "estimate," "project," "budget," "forecast," "anticipate," "intend," "plan," "may," "will," "could," "should," "believes," "predicts," "potential," "possible," "continue," and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. These forward-looking statements include, without limitation, OppFi's expectations with respect to the future performance of OppFi's platform and OppFi's expectations for its growth. These forward-looking statements are based on OppFi's current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Most of these factors are outside OppFi's control and are difficult to predict. Factors that may cause such differences include, but are not limited to: the impact of COVID-19 on OppFi's business; the impact of stimulus or other government programs; the effects of inflationary pressures; whether OppFi will be successful in obtaining declaratory relief against the Commissioner of the Department of Financial Protection and Innovation for the State of California; whether OppFi will be subject to AB 539; whether OppFi's bank partners will continue to lend in California and whether OppFi's financing sources will continue to finance the purchase of participation rights in loans originated by OppFi's bank partners in California; the risk that the business combination disrupts current plans and operations; the ability to recognize the anticipated benefits of the business combination, which may be affected by, among other things, competition, the ability of OppFi to grow and manage growth profitably and retain its key employees; risks related to new products; concentration risk; costs related to the business combination; changes in applicable laws or regulations; the possibility that OppFi may be adversely affected by other economic, business, and/or competitive factors; risks related to management transitions; and other risks and uncertainties indicated from time to time in OppFi's filings with the United States Securities and Exchange Commission, in particular, contained in the section or sections captioned "Risk Factors." OppFi cautions that the foregoing list of factors is not exclusive, and readers should not place undue reliance upon any forward-looking statements, which speak only as of the date made. OppFi does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based.
More on illi News
- $12.8 Million Net Revenue for 2024 for Cloud-Based Crowdsourcing Recruitment and SaaS-Enabled HR Solutions Provider: Baiya International Group Inc
- City of Chicago Releases Annual Comprehensive Financial Report for Fiscal Year 2024
- Indies United is pleased to present our July 2025 book releases
- Endurance Warranty Earns 2025 Buyer's Choice Awards from ConsumerAffairs Through Verified Customer Reviews
- Hire Virtue Announces Executive Sponsorship Opportunity for Houston Hiring Blitz & Job Fair on August 6, 2025
Contacts
Investor Relations: investors@oppfi.com
Media Relations: media@oppfi.com
Filed Under: Business
0 Comments
Latest on illi News
- Spartan & Guardians Partner with Guitar Legend Buckethead to Support Global Child Rescue Efforts
- Mt. Carmel's Claude Mpouma to Announce College Commitment — Media Invited
- Bennett Awards Crafts Custom Trophies for Inaugural OMTEC Awards at 2025 Orthopedic Expo
- Preliminary.online Introduces Short-Term Job-Readiness Courses with Employer-Verified Certifications
- Psychologist-Turned-Hermeticist Releases Modern Guide to the Seven Hermetic Principles
- Winners Announced for Asia Pacific Business Awards 2024-2025
- Hamvay-Lang and Lampone.hu Join Forces with AIMarketingugynokseg.hu to Elevate Hungarian Lifestyle Brands on the Global Stage
- Google AI Quietly Corrects the Record on Republic of Aquitaine's Legal Sovereignty
- The Lashe Rapid Dry Adhesive & Fan Lash Extensions Featured in eWellness Magazine's Lash Story
- NYC Leadership Strategist Stacie Selise Launches Groundbreaking 4S Framework Series to Redefine Executive Excellence
- Chicago: Mayor Brandon Johnson Announces 2026 Budget Engagement Roundtables
- Make Innovation Matter: Support H.R.1's R&D Expensing Relief for American Small Businesses
- Agreement to Supply US-Based Defense Provider with Thin-Film Solar Tech for Orbital Application; Ascent Solar Technologies, Inc. (N A S D A Q: ASTI)
- Byrd Davis Alden & Henrichson Launches Independence Day Safe Ride Initiative with 500 Free Uber Credits
- databahn Launches GenAI Sales Intelligence Platform to Revolutionize Fortune 500 and Global 2000 Account Research
- IRF Builders Forum Brings Global Leaders to Washington, D.C. to Advance Religious Freedom Through Cooperative Engagement
- Universal Destinations & Experiences Plans Second Universal Horror Unleashed in Chicago
- Colorado Scenthound Locations Partner with Humane Colorado to Give Adopted Dogs a "Clean Start"
- Big Green Egg and Ace Hardware Launch "Egg Your Neighbor" Contest to Celebrate Neighborhood Heroes
- Pi9 Becomes a Microsoft Training Services Partner