---
schema_version: "secwatch.filing_event.v1"
accession: "0001538716-23-000165"
form_type: "8-K"
ticker: "OPRT"
cik: "0001538716"
company_name: "Oportun Financial Corp"
filed_at: "2023-10-26T23:59:59+00:00"
generated_at: "2026-06-09T08:31:35.150913+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Oportun closes $197M structured financing facility with Castlelake at 10.05% blended rate

## Summary
- Borrowed $197M under Receivables Loan and Security Agreement; blended interest rate 10.05%.
- Proceeds to finance origination of personal loan products; facility closed October 20, 2023.
- Follows prior $400M whole loan flow sale agreement with Castlelake for personal loan originations over 12 months.
- Company must maintain minimum tangible net worth and unrestricted cash while borrowings outstanding.
- Castlelake has invested >$4B in consumer credit since 2015; Oportun maintains diverse capital sources.

## SEC filing metadata
- accession: 0001538716-23-000165
- form_type: 8-K
- ticker: OPRT
- cik: 0001538716
- company_name: Oportun Financial Corp
- filed_at: 2023-10-26T23:59:59+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 2.03, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1538716/000153871623000165/0001538716-23-000165-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1538716/000153871623000165/oprt-20231020.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001538716-23-000165
- JSON: https://secwatch.observer/filing/0001538716-23-000165.json
- Plain text: https://secwatch.observer/filing/0001538716-23-000165.txt

## Key facts
- Debt Financings
  Oportun Financial Corp incurred loan of $197 million with certain lenders from time to time party thereto and Wilmington Trust, National Association at 10.05%.
  - Instrument: loan
  - Principal: $197 million
  - Counterparty: certain lenders from time to time party thereto and Wilmington Trust, National Association
  - Rate: 10.05%
  - Event: incurrence
  source text: paying agent and account bank (in such capacities, respectively, the “Administrative Agent,” the “Paying Agent” and the “Account Bank”), pursuant to which the Borrower borrowed $197 million. Borrowings under the Receivables Loan and Security Agreement accrue interest at a blended rate equal to 10.05%. Under the terms of the Receivables Loan and Security Agreement,
  evidence_url: https://www.sec.gov/Archives/edgar/data/1538716/000153871623000165/0001538716-23-000165-index.htm
- Material Agreements
  Oportun Financial Corp entered into Receivables Loan and Security Agreement with certain lenders from time to time party thereto and Wilmington Trust, National Association as administrative agent, paying agent and account bank valued at $197 million (effective 2023-10-20).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: certain lenders from time to time party thereto and Wilmington Trust, National Association as administrative agent, paying agent and account bank
  - Value: $197 million
  - Effective: 2023-10-20
  source text: Oportun CL Trust 2023-A (the “Borrower”), Oportun, Inc. (the “Seller”), and Oportun CL Depositor, LLC, (the “Depositor”), each subsidiaries of the Company, entered into a Receivables Loan and Security Agreement (the “Receivables Loan and Security Agreement”) with certain lenders from time to time party thereto (the “Lenders”) and Wilmington Trust, National Association as administrative agent, paying agent and account bank (in such capacities, respectively, the “Administrative Agent,” the “Paying Agent” and the “Account Bank”), pursuant to which the Borrower borrowed $197 million.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1538716/000153871623000165/0001538716-23-000165-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.