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Borrowings (Tables)

3 Months Ended

Mar. 31, 2025

Debt Disclosure [Abstract]

Schedule of Borrowings

The following table presents information regarding the Company's Secured Financing facilities:

																								March 31, 2025						December 31, 2024
Variable Interest Entity						Facility Amount						Maturity Date						Interest Rate						Balance						Balance
(in thousands)
Oportun PLW Trust						$	429,030					September 1, 2027						Term SOFR + 3.35%						$	224,516					$	265,654
Oportun PLW II Trust						337,100						August 1, 2028						Term SOFR + 3.07%						220,979						269,815
Total secured financing						$	766,130																	$	445,495					$	535,469

The following table presents information regarding asset-backed notes at fair value:

						March 31, 2025
Variable Interest Entity						Initial note amount issued (1)						Initial collateral balance (2)						Current note balance (1)						Current collateral balance (2)						Weighted average interest rate(3)						Original revolving period (4)
(in thousands)
Asset-backed notes recorded at fair value:
Oportun Issuance Trust (Series 2022-3)						$	300,000					$	310,993					$	40,072					$	45,878					11.89		%				N/A
Oportun Issuance Trust (Series 2022-2)						400,000						410,212						28,307						32,561						11.34		%				N/A
Oportun Issuance Trust (Series 2022-A)						400,000						410,211						207,902						225,325						5.81		%				2 years
Oportun Issuance Trust (Series 2021-C)						500,000						512,762						353,483						378,382						2.48		%				3 years
Oportun Issuance Trust (Series 2021-B)						500,000						512,759						234,095						253,875						2.06		%				3 years
Total asset-backed notes recorded at fair value						$	2,100,000					$	2,156,937					$	863,859					$	936,021

						December 31, 2024
Variable Interest Entity						Initial note amount issued (1)						Initial collateral balance (2)						Current note balance (1)						Current collateral balance (2)						Weighted average interest rate(3)						Original revolving period (4)
(in thousands)
Asset-backed notes recorded at fair value:
Oportun Issuance Trust (Series 2022-3)						$	300,000					$	310,993					$	54,463					$	62,323					11.43		%				N/A
Oportun Issuance Trust (Series 2022-2)						400,000						410,212						40,453						46,578						10.82		%				N/A
Oportun Issuance Trust (Series 2022-A)						400,000						410,211						261,939						280,234						5.65		%				2 years
Oportun Issuance Trust (Series 2021-C)						500,000						512,762						427,872						460,500						2.48		%				3 years
Oportun Issuance Trust (Series 2021-B)						500,000						512,759						295,963						320,306						2.06		%				3 years
Oportun Funding XIV, LLC (Series 2021-A)						375,000						383,632						—						—						—		%				2 years
Total asset-backed notes recorded at fair value						$	2,475,000					$	2,540,569					$	1,080,690					$	1,169,941

(1)Initial note amount issued includes notes retained by the Company as applicable. The current balances are measured at fair value for asset-backed notes recorded at fair value.

(2)Includes the unpaid principal balance of loans receivable, the balance of required reserve funds, cash, cash equivalents and restricted cash pledged by the Company.

(3)Weighted average interest rate excludes notes retained by the Company. There were no notes retained by the Company as of March 31, 2025. The weighted average interest rate for Series 2022-A, Series 2022-2 and Series 2022-3 will change over time as the notes pay sequentially (in class priority order).

(4)The revolving period for Series 2021-A ended on March 1, 2023, Series 2021-B ended on May 1, 2024, and Series 2022-A ended on June 1, 2024. These asset-backed notes have been amortizing since then. Series 2022-2 and Series 2022-3 are both amortizing deals with no revolving period.

The following table represents information regarding the Company's asset-backed notes and asset-backed borrowings at amortized cost:

									March 31, 2025												December 31, 2024
									Balance												Balance
Asset-backed borrowings at amortized cost									Pledged Asset (1)						Associated Liability						Pledged Asset (1)						Associated Liability
(in thousands)
Oportun Issuance Trust 2025-A									$	425,107					$	420,393					$	—					$	—
Oportun Issuance Trust 2024-2									158,373						157,510						189,401						188,316
Oportun Issuance Trust 2024-1									71,709						71,471						92,759						92,386
Oportun CL Trust 2023-A									197,390						196,064						197,390						195,855
Other Asset Backed Borrowings									428,381						435,836						503,032						507,776
Total asset-backed borrowings at amortized cost:									$	1,280,960					$	1,281,274					$	982,582					$	984,333

(1) The amount of pledged assets are recognized within the Loans Receivable at Fair Value within the Consolidated Balance Sheet.

The following table presents information regarding the Company's Corporate Financings:

																								March 31, 2025						December 31, 2024
Entity						Original Balance						Maturity Date						Interest Rate						Balance						Balance
(in thousands)
Oportun Financial Corporation						235,000						November 14, 2028						15.00% per annum						199,669						203,751
Total Corporate Financing						$	235,000																	$	199,669					$	203,751

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Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation.

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