OppFi draws $75.0 million on $100.0 million senior secured term loan
OppFi Inc. disclosed that a subsidiary borrowed $75.0 million under a senior secured multi-draw term loan dated August 10, 2026, with a fixed rate of 12.50% per annum before its pending BNCCORP acquisition closes. The company said the proceeds will support growth in finance receivables and for working capital and general corporate purposes. Shareholders should note the loan carries a 1.25% original issue discount, semi-annual amortization and covenants, and that a further $25.0 million remains available through February 10, 2027.
Key points
- Initial borrowing of $75.0 million on September 15, 2026; maximum commitment $100.0 million
- Fixed rate of 12.50% per annum before the BNCCORP acquisition closes, rising to 13.50% after
- Maturity is four years from September 15, 2026; loans require semi-annual amortization of 10% of principal
- BNCCORP stockholders adopted the merger agreement at a special meeting on September 17, 2026; regulatory approvals remain pending
The filing
Written by AI on Nov 9, 2026, 11:43 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on September 21, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.