Oportun Financial Corporation (NASDAQ:OPRT) recently enhanced its debt capital structure by closing a $247 million three-year revolving term committed warehouse facility with Citizens Financial Group. Additionally, the company secured a 12-month extension of an existing warehouse facility with Goldman Sachs, increasing total committed warehouse capacity to $1.14 billion.

The weighted term for the combined warehouse facilities has increased to 25 months from 17 months, with the two warehouse facilities priced at favorable terms. Oportun Financial Corporation aims to reduce financing costs while increasing committed warehouse capacity to continue delivering for investors and members. Paul Appleton, Interim CFO, highlights the importance of this move for the company’s future growth and success.

Oportun Financial Corporation (NASDAQ:OPRT) is a financial services company providing loans, savings, and budgeting tools for individuals with limited or no credit history. Leveraging AI technology, the company offers personal and auto loans, digital banking, and savings products to help manage financial goals. While OPRT shows potential as an investment, some AI stocks may offer greater upside potential with lower downside risk.

Read more at Yahoo Finance: Oportun Financial Corporation (OPRT) Enhances Debt Capital Structure with $247M Warehouse Facility