OppFi, a tech-enabled digital finance platform that partners with banks to offer financial products and services to everyday Americans, closed a new $150 million revolving credit facility among one of its subsidiaries and funds managed by Castlelake L.P., replacing a prior facility. The new facility has a four-year term and represents a significant improvement in financing costs, with a reduction in the interest rate from SOFR + 7.5% to SOFR + 6.0%.

"We believe this transaction is a testament to the strength and durability of our business model. We expect the facility to improve our financing costs and support further growth," said Todd Schwartz, Chief Executive Officer and Executive Chairman of OppFi.

The credit facility is designed to support the Company's ongoing growth in receivables and further its mission of providing credit access to millions of Americans who mainstream financial institutions do not traditionally serve.