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Borrowings (Tables)

3 Months Ended

Mar. 31, 2022

Debt Disclosure [Abstract]

Schedule of Borrowings

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

Purpose						Borrower						Borrowing Capacity						March 31, 2022						December 31, 2021						Interest Rate as of March 31, 2022, Except as Noted						Maturity Date
Secured borrowing payable						Opportunity Funding SPE II, LLC						$	19,176					$	19,176					$	22,443					15.00%						—			(1)
Senior debt
Revolving line of credit						Opportunity Funding SPE III, LLC						$	175,000					$	123,000					$	119,000					LIBOR plus 6.00%						January 2024
Revolving line of credit						Opportunity Funding SPE V, LLC; Opportunity Funding SPE VII, LLC						75,000						49,500						45,900						LIBOR plus 7.25%						April 2024
Revolving line of credit						Opportunity Funding SPE VI, LLC						50,000						33,000						30,600						LIBOR plus 7.25%						April 2023
Revolving line of credit						Opportunity Funding SPE IV, LLC; SalaryTap Funding SPE, LLC						45,000						7,500						7,500						SOFR plus 0.11% plus 3.85%						February 2024
Total revolving lines of credit												345,000						213,000						203,000
Term loan, net						OppFi-LLC						50,000						48,687						48,578						LIBOR plus 10.00%						March 2025
Total senior debt												$	395,000					$	261,687					$	251,578
(1)						Maturity date extended indefinitely until borrowing capacity is depleted

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

As of March 31, 2022, required payments for the term loan for each of the next five years are as follows (in thousands):

Year						Amount
Remainder of 2022						$	—
2023						—
2024						—
2025						50,000
2026						—
Total						$	50,000

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