OppFi Expands Bank Credit Facility to Support Growth of SalaryTap

CHICAGO--(BUSINESS WIRE)--OppFi Inc. (NYSE: OPFI) (“OppFi”), a leading financial technology platform that powers banks to help everyday consumers gain access to credit, announced today that it has expanded its existing $25 million bank credit facility to $45 million. OppFi plans to use the expanded facility in part to support the growth and expansion of its SalaryTap product, an employer payroll-linked loan product, that is available in 33 states.

"This expanded facility is an important financial milestone for OppFi as it can help us further expand and grow the SalaryTap product and help everyday consumers gain access to simple and affordable financial products," said Jared Kaplan, Chief Executive Officer, OppFi. "We see a growing market opportunity with this type of product as we look to further expand credit access to millions of consumers who have limited mainstream affordable options.”

In the second quarter, OppFi announced the expansion of SalaryTap into 33 markets as well as new relationships with financial care platforms, Best Money Moves and Brightside. OppFi plans to further expand the SalaryTap platform into additional states in the fourth quarter of 2021.

Additional information regarding the expanded bank credit facility is included in the Current Report on Form 8-K filed today by OppFi with the U.S. Securities and Exchange Commission.

About OppFi:

OppFi (NYSE: OPFI) is a leading financial technology platform that powers banks to offer accessible products and a top-rated experience to everyday consumers. OppFi’s platform facilitates the installment loan products, OppLoans and SalaryTap, and the credit card product, OppFi Card. The company has been an Inc. 5000 company for six straight years, a two-time Deloitte's Technology Fast 500™, and the seventh fastest-growing company in Chicagoland in 2021 by Crain's Chicago Business. The company was also listed on the Forbes America 2021 list of America's Best Startup Employers and Built In's 2021 Best Places to Work in Chicago. OppFi maintains an A+ rating from the Better Business Bureau (BBB) and maintains a 4.8/5 star rating with more than 14,000 online customer reviews, making it one of the top customer-rated financial platforms online. For more information, please visit oppfi.com.

Contacts

Wendy Serafin, SVP of Communications, OppFi

Media Relations: media@oppfi.com

Investor Relations: investors@oppfi.com