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Here are 1-2 brief analogies for OppFi:

• Think of it as SoFi, but for consumers with non-prime credit scores or limited access to traditional banking services.
• A more tech-driven version of OneMain Financial, providing personal loans and credit cards primarily online to underserved consumers.

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• Installment Loans: Provides small-dollar, short-term installment loans primarily to non-prime consumers.
• OppFi Credit Card: Offers a credit card product designed for consumers with limited or no credit history.
• OppFi Banking Card: A financial platform offering banking features and debit cards through partner banks.

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OppFi (symbol: OPFI) primarily sells its financial products and services to individuals rather than other companies. The company targets a specific segment of the consumer market, focusing on those underserved by traditional financial institutions.

The categories of customers OppFi serves include:

• Non-Prime Credit Consumers: This is OppFi's core demographic. They serve individuals who have FICO scores generally below 650, often between 500 and 650, and who may struggle to obtain credit from traditional banks or lenders. These consumers often face unexpected expenses and seek accessible credit options.

• Underbanked and Under-resourced Individuals: Many OppFi customers are those with limited access to mainstream financial services. This can include individuals who lack a checking account, have minimal savings, or have been historically excluded from traditional credit markets. OppFi aims to provide solutions for their financial needs.

• Individuals Seeking Financial Inclusion and Credit Building: OppFi's products are designed not only to provide immediate financial access but also to offer a pathway for customers to potentially improve their credit scores. By responsibly managing their loans or credit cards with OppFi, customers can work towards better financial health and access to more traditional financial products in the future.

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• FinWise Bancorp (FINW)
• First Electronic Bank

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Todd Schwartz, Chief Executive Officer, Executive Chairman, and Founder

Todd Schwartz founded OppFi in 2012 and has served as its CEO since February 2022, also holding the positions of Executive Chairman and Founder. He was previously CEO of OppFi from 2012 until 2015. Prior to OppFi, he founded Beach Coast Properties, a multi-family real estate company, which successfully purchased, renovated, stabilized, and sold $40 million of multi-family real estate between 2007 and 2014. Schwartz is also a Partner at Schwartz Capital Group, a family investment business, and a Partner at Strand Equity Partners, a growth equity firm focused on consumer brands.

Pamela Johnson, Chief Financial Officer

Pamela Johnson was appointed Chief Financial Officer of OppFi in March 2022, having joined the company as Chief Accounting Officer in 2021. Before her time at OppFi, she served as the Chief Financial Officer for Heights Finance, an installment lender, from December 2010 to December 2020. Johnson also held the position of Chief Financial Officer at Pioneer Financial Services, Inc., a purchaser of loans made by Pioneer Military Loans. She brings extensive experience in managing financial aspects for both public and private companies within the consumer lending sector.

Manuel Chagas, Chief Operating Officer

Manuel Chagas became the Chief Operating Officer of OppFi in April 2022. His background includes eight years at Discover Financial Services, where he held various leadership roles, including overseeing product, marketing, and operations for the student loans business. Earlier in his career, Chagas worked as a consultant for McKinsey & Company and Accenture.

Christopher McKay, Chief Risk and Analytics Officer

Christopher McKay has served as OppFi's Chief Risk and Analytics Officer since June 2013. Before joining OppFi, McKay was a Senior Director, Partnership Analytics at Capital One. He also held various roles at HSBC, including Director, Risk.

Yuri Ter-Saakyants, Chief Technology Officer

Yuri Ter-Saakyants is the Chief Technology Officer of OppFi. Prior to joining OppFi, he was the Chief Technology Officer for Insureon from 2012 to 2020. His earlier career included similar technology leadership roles at Mediaocean and Beeline Solutions.

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1. Regulatory Risk and "True Lender" Challenges: OppFi's business relies on a bank partnership model that allows it to offer loans at rates that might exceed state-specific interest rate caps if the company were considered the "true lender". This model faces significant regulatory scrutiny, particularly in California, where the Department of Financial Protection and Innovation (DFPI) has challenged OppFi under the "true lender" doctrine, alleging that OppFi, not its partner banks, holds the predominant economic interest in the loans. A negative outcome in such litigation, or further state or federal rate caps, could require OppFi to fundamentally alter its business, void existing loans, or face substantial penalties, potentially undermining its entire operation.
2. Credit Default Risks and Exposure to Non-Prime Borrowers: As a lender to subprime or non-prime borrowers, OppFi is inherently exposed to elevated credit risk. A downturn in the economy, such as a recession or increased inflation, could lead to higher unemployment and reduced consumer savings, resulting in a rise in loan delinquencies and charge-offs. While OppFi employs AI and machine learning to manage credit risk and has seen improvements in its net charge-off rate, the core vulnerability to the financial health of its high-risk borrower base remains a significant concern.
3. Intense Competition: The fintech lending market is highly competitive, with OppFi facing rivals ranging from other specialized lenders like Enova International and Oportun, to larger, more diversified fintech companies such as SoFi and Dave. Competitors with lower-cost models or broader service offerings could attract customers away from OppFi, impacting its market share and profitability. The ease of entry into the fintech lending space also contributes to ongoing competitive pressure.

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1. Emergence and Growth of Alternative, Lower-Cost Lending and Liquidity Solutions: The proliferation of services like Earned Wage Access (EWA), which allows employees to access earned but unpaid wages before payday, and the expansion of Payday Alternative Loans (PALS) offered by credit unions, directly threatens OppFi's core business of providing high-interest, short-term loans. These alternatives often come with significantly lower fees or interest rates, providing a more financially sustainable option for consumers needing immediate liquidity. This parallels the threat Netflix posed to Blockbuster by offering a better, more convenient, and often cheaper alternative.

2. Advancements in AI and Alternative Data for Credit Scoring by Competing Fintechs: A growing number of fintech companies are leveraging artificial intelligence and machine learning to analyze alternative data points (e.g., banking transaction history, utility payments, rent payments) to assess the creditworthiness of underserved consumers more accurately than traditional credit scores. This allows these new entrants to potentially offer lower interest rates to a segment of OppFi's target market that they can identify as lower risk. This "cream-skimming" effect could leave OppFi with only the highest-risk borrowers, increasing their default rates and eroding profitability, similar to how new tech disrupted older business models.

3. Heightened Regulatory Scrutiny and Potential for New Interest Rate Caps or Fee Restrictions: There is an ongoing and intensifying trend of regulatory pressure, particularly from the Consumer Financial Protection Bureau (CFPB) and state legislatures, targeting high-cost credit products and "junk fees." OppFi's business model relies on charging higher Annual Percentage Rates (APRs) to compensate for the higher risk profile of its customers. Any new federal or state regulations that cap interest rates (e.g., at 36% APR, as seen in some state-level proposals) or restrict fees could severely limit OppFi's ability to operate profitably, fundamentally altering the economic viability of their core products in many markets.

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OppFi's addressable markets for its main products and services are as follows:

• Personal Loans (OppLoans): The addressable market for U.S. consumer installment lending, which includes personal loans for consumers with limited access to traditional credit, is forecast at $212 billion.

• SalaryTap (Payroll-linked lending product): null

• Credit Card Solutions (OppFi Card): The addressable market for the non-prime credit card market in the U.S. is $21 billion.

• Financial Education Tools: null

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Share Repurchases

• OppFi initially authorized a $20 million share repurchase program in January 2022.
• The total authorized share repurchases were increased to $40 million by August 2025.
• As of August 26, 2025, approximately $7.6 million of shares had been repurchased, with about $32.4 million remaining capacity under the program.

Share Issuance

• OppFi became a public company in July 2021 through a business combination with FG New America Acquisition Corp. (SPAC), valuing the combined company at approximately $800 million.
• The transaction resulted in existing OppFi equityholders retaining about 62% ownership, while FGNA SPAC shareholders and sponsors received 30% and 8% stakes, respectively.
• The company anticipates receiving up to approximately $179.6 million from the exercise of warrants, assuming full exercise for cash, which would further impact share issuance.

Inbound Investments

• OppFi completed its business combination with FG New America Acquisition Corp., a special purpose acquisition company, in July 2021, leading to its public listing.
• The company secured significant debt funding, including a $200 million conventional debt round in June 2022.
• In 2025, OppFi enhanced its funding capacity by increasing its revolving credit facility by $50 million in Q1 and establishing a new $150 million Castlelake facility in Q3.

Outbound Investments

• In August 2024, OppFi acquired a 35% equity interest in Bitty Advance, a company specializing in credit access for small businesses, for $17.9 million.
• The acquisition was financed with 85% cash and 15% stock.
• The deal provides OppFi with options to achieve majority ownership in 2027 and full ownership by 2030.