Oportun Financial (OPRT) said Wednesday it closed a $187.5 million committed warehouse facility, increasing its total committed warehouse capacity to $954 million.
The facility, which has a two-year revolving period, is collateralized by the company's personal loan originations and includes Natixis Corporate & Investment Banking as the senior lender and Neuberger Berman as the mezzanine lender, the company said.
Oportun Interim CFO Paul Appleton said the financing will support the company's responsible growth.
Shares of Oportun Financial were up nearly 2% in after-hours trading.
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