Oportun closes $187.5M personal loan warehouse facility; total capacity now $954M

Oportun Financial Corp

New warehouse facility has a two-year term, borrowing capacity of $187.5M, and advance rate of 95% (92% under certain triggers).
Borrowings accrue interest at up to Term SOFR plus weighted average spread of 3.34%.
Lenders include Natixis Corporate & Investment Banking (senior) and Neuberger Berman (mezzanine).
Facility collateralized by Oportun's unsecured and secured personal loan originations.
Increases total committed warehouse capacity from ~$766.5M to $954M.

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