---
schema_version: "secwatch.filing_event.v1"
accession: "0001818502-22-000021"
form_type: "8-K"
ticker: "OPFI"
cik: "0001818502"
company_name: "OppFi Inc."
filed_at: "2022-12-20T23:59:59+00:00"
generated_at: "2026-06-21T01:53:04.888617+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# OppFi closes $150M credit facility with Castlelake, repays $109M Ares facility

## Summary
- $150M revolving credit facility; interest rate = SOFR + 7.50%; matures Dec 14, 2026.
- Proceeds to finance receivables growth and repay ~$109M outstanding under prior Ares facility.
- Prior Ares SPV III credit agreement terminated effective Dec 14, 2022.
- Lenders: affiliate of Castlelake L.P.; Hudson Cove Capital Management also participating.

## SEC filing metadata
- accession: 0001818502-22-000021
- form_type: 8-K
- ticker: OPFI
- cik: 0001818502
- company_name: OppFi Inc.
- filed_at: 2022-12-20T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 1.02, 2.03, 2.04, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1818502/000181850222000021/0001818502-22-000021-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1818502/000181850222000021/opfi-20221214.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001818502-22-000021
- JSON: https://secwatch.observer/filing/0001818502-22-000021.json
- Plain text: https://secwatch.observer/filing/0001818502-22-000021.txt

## Key facts
- Debt Financings
  OppFi Inc. incurred revolving credit of $150.0 million with UMB Bank, N.A. (as administrative agent) at Term Secured Overnight Financing Rate plus 7.50% maturing December 14, 2026.
  - Instrument: revolving credit
  - Principal: $150.0 million
  - Counterparty: UMB Bank, N.A. (as administrative agent)
  - Rate: Term Secured Overnight Financing Rate plus 7.50%
  - Maturity: December 14, 2026
  - Event: incurrence
  source text: The Agreement provides for maximum borrowings of $150.0 million at an interest rate equal to the Term Secured Overnight Financing Rate plus 7.50% and a maturity date of December 14, 2026.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1818502/000181850222000021/0001818502-22-000021-index.htm
- Material Agreements
  OppFi Inc. terminated Ares SPV III Agreement with Ares Agent Service, L.P. as administrative agent and collateral agent, and the lenders party thereto valued at approximately $109.0 million (effective 2022-12-14).
  - Action: termination
  - Agreement: credit facility
  - Counterparty: Ares Agent Service, L.P. as administrative agent and collateral agent, and the lenders party thereto
  - Value: approximately $109.0 million
  - Effective: 2022-12-14
  source text: On December 14, 2022, OppFi-LLC provided notice of termination of the Ares SPV III Agreement, effective December 14, 2022.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1818502/000181850222000021/0001818502-22-000021-index.htm
- Material Agreements
  OppFi Inc. entered into Revolving Credit Agreement with UMB Bank, N.A., as administrative agent and collateral agent, Randolph Receivables LLC, as Castlelake Representative, and the lenders party thereto valued at $150.0 million (effective 2022-12-14).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: UMB Bank, N.A., as administrative agent and collateral agent, Randolph Receivables LLC, as Castlelake Representative, and the lenders party thereto
  - Value: $150.0 million
  - Effective: 2022-12-14
  source text: On December 14, 2022, Opportunity Financial, LLC, a Delaware limited liability company (“OppFi-LLC”) and subsidiary of OppFi Inc., a Delaware corporation (the “Company”), Opportunity Funding SPE IX, LLC, a Delaware limited liability company and wholly owned subsidiary of OppFi-LLC (“SPE IX Borrower”), and certain other subsidiaries of the Company as credit parties and guarantors, entered into a Revolving Credit Agreement (the “Agreement”), by and among OppFi-LLC, SPE IX Borrower, the other credit parties and guarantors thereto, UMB Bank, N.A., as administrative agent and collateral agent, Randolph Receivables LLC, as Castlelake Representative, and the lenders party thereto.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1818502/000181850222000021/0001818502-22-000021-index.htm

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