OppFi Inc. Announces $100M Term Loan Facility; Files Q2 2026 Results

What Happened
OppFi Inc. announced on August 10, 2026 that a direct subsidiary, Opportunity Funding SPE Residual, LLC, entered into a Senior Secured Multi-Draw Term Loan Agreement providing up to $100.0 million in borrowing capacity. The facility carries a fixed interest rate of 12.50% per annum prior to OppFi’s pending acquisition of BNCCORP, Inc. and BNC Bank (the “Bank Acquisition”) and 13.50% thereafter; each draw is subject to a 1.25% original issue discount. No loans were drawn at signing. On the same date OppFi furnished its press release with Q2 2026 results and an earnings presentation as Exhibits 99.1 and 99.2 to the Form 8-K.

Key Details

• Facility size and pricing: up to $100.0M total; fixed rate 12.50% before the Bank Acquisition, 13.50% after; 1.25% original issue discount on each funded draw.
• Draw and repayment terms: initial available draw $75.0M; further minimum draws equal to the lesser of $5.0M or remaining commitment; draw period ends six months after closing; facility matures four years after initial draw (extensions possible at lenders’ discretion); semi-annual amortization equal to 10% of funded principal.
• Security and guarantees: OppFi-LLC guaranteed the loans at signing and both OppFi-LLC and the Borrower granted liens on all assets (Borrower’s assets are primarily equity interests in two SPEs holding consumer loan receivables). Immediately prior to and conditioned on closing the Bank Acquisition, borrower obligations will be assumed by a new SPE, OppFi-LLC’s guaranty will be released, and OppFi-LLC’s asset liens will be released.
• Covenants and other terms: facility is subject to a borrowing base and financial covenants (pre-acquisition: tangible net worth, liquidity and max consolidated debt-to-tangible net worth; post-acquisition: capital and leverage ratios). Voluntary and mandatory prepayment provisions apply; customary events of default included.

Why It Matters
This financing gives OppFi additional committed liquidity to fund growth in finance receivables and for working capital and general corporate purposes, while preserving flexibility ahead of the planned Bank Acquisition. Key items for investors to note are the relatively high fixed interest rate (12.5–13.5%), the limited draw window (six months) and amortization schedule (10% semi-annually), the collateral structure (liens on SPE equity), and covenant shifts tied to the Bank Acquisition. The company also publicly furnished its Q2 2026 earnings release and investor presentation on August 10, 2026.