Oportun (NASDAQ:OPRT), a mission-driven financial services company, today announced the closing of an amendment and extension to its long-term warehouse facility. Features of this facility include:
- $306 million total commitment
- Goldman Sachs as senior lender – and Jefferies, as mezzanine lender – both existing, longstanding lenders to Oportun
- A new two-year revolving period
- Collateralized by Oportun's unsecured and secured personal loan originations
"This warehouse facility extension expands on Oportun's longstanding lending relationships", said Jonathan Coblentz, Chief Financial Officer of Oportun. "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."
Oportun maintains a diverse set of capital sources including committed warehouse facilities, asset-backed securitizations, corporate-level debt financing, and whole loan sales.