OppFi adds tranche to increase revolver with Atalaya to $250 million

Chicago, July 25 – OppFi Inc. subsidiary Opportunity Financial, LLC and OppFi-LLC wholly owned subsidiary Opportunity Funding SPE V, LLC added a tranche to the revolving credit facility with affiliates of Atalaya Capital Management to bring the total facility size to $250 million from $200 million, according to an 8-K filing with the Securities and Exchange Commission.

The July 19 amended agreement lists Midtown Madison Management LLC as administrative agent and collateral agent.

Opportunity Funding SPE VII, LLC was removed as a borrower. Further, OppFi card receivables are no longer pledged under the agreement.

The $250 million of availability breaks down into a $125 million tranche B and a $125 million tranche C.

Tranche C has a $25 million accordion.

Interest will be at SOFR plus 750 basis points.

The commitment period lasts until July 19, 2026. The maturity date is July 19, 2027.

Proceeds will be used to repay in full the outstanding tranche A loans, and the remainder of the proceeds will be used to finance receivables growth.

OppFi is a Chicago-based financial technology company.

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