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Borrowings (Tables)

9 Months Ended

Sep. 30, 2021

Debt Disclosure [Abstract]

Schedule of Borrowings

The following is a summary of the Company’s borrowings (in thousands):

Purpose						Borrower						Borrowing Capacity						September 30, 2021						December 31, 2020						Interest Rate as of September 30, 2021, Except as Noted						Maturity Date
Secured borrowing payable						Opportunity Funding SPE II, LLC						$	38,036					$	19,791					$	16,025					15.00%						December 2021
Senior debt
Revolving line of credit						OppFi-LLC						$	—					$	—					$	5,000					LIBOR plus 2.50%						February 2022
Revolving line of credit						Opportunity Funding SPE III, LLC						175,000						87,500						59,200						LIBOR plus 6.00%						January 2024
Revolving line of credit						Opportunity Funding SPE V, LLC						75,000						37,500						24,222						LIBOR plus 7.25%						April 2023
Revolving line of credit						Opportunity Funding SPE VI, LLC						50,000						25,000						16,148						LIBOR plus 7.25%						April 2023
Revolving line of credit						Opportunity Funding SPE IV, LLC; SalaryTap Funding SPE, LLC						45,000						7,500						12,506						LIBOR plus 3.85%						February 2024
Total revolving lines of credit												345,000						157,500						117,076
Term loan, net						OppFi-LLC						50,000						48,468						14,650						LIBOR plus 10.00%						March 2025
Total senior debt												$	395,000					$	205,968					$	131,726
Subordinated debt - related party						OppFi-LLC						$	—					$	—					$	4,000					14.00%			(1)			December 2023
Other debt						OppFi-LLC						$	—					$	—					$	6,354					1.00%			(2)			April 2022
(1)						Interest rate as of 12/31/2020 and for the subsequent period thru and until loan was repaid
(2)						Interest rate as of 12/31/2020 and for the subsequent period thru and until loan was forgiven

Summary of Required Payments for Borrowings, Excluding Secured Borrowing and Revolving Lines of Credit

As of September 30, 2021, required payments for all borrowings, excluding secured borrowing and revolving lines of credit, for each of the next five years are as follows (in thousands):

Year						Amount
Remainder of 2021						$	—
2022						—
2023						—
2024						—
2025						50,000
Total						$	50,000

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