Oppfi Inc. (OPFI) Secures $150M Credit Facility to Fuel Growth and Expand Credit Access

OppFi Inc. (NYSE:OPFI) is one of the top credit services stocks to buy amid the US rate cut. On October 2, OppFi Inc. (NYSE:OPFI) announced a new $150 million revolving credit facility with Castlelake L.P., replacing its previous arrangement and lowering its interest rate to SOFR plus 6.0%.

The four-year deal reflects improved financing terms and highlights OppFi’s strong liquidity, backed by a current ratio of 19.57. With revenue up 31% year-over-year and analysts raising earnings estimates, the company expects the facility to support growth in receivables and expand access to underserved borrowers. OppFi holds a 35% stake in Bitty Holdings, which provides funding solutions to small businesses.

OppFi Inc. (NYSE:OPFI) is a tech-enabled financial platform that provides installment loans to consumers, often those underserved by traditional banks, through its OppLoans platform. The company partners with banks to offer financial products and uses a data-driven approach with over 500 attributes to assess creditworthiness.

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Disclosure: None. This article is originally published at Insider Monkey.