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OFFON

OPORTUN FINANCIAL CORPORATION

(OPRT)
  Report
Delayed Quote. Delayed Nasdaq - 12/01 04:00:01 pm
20.7 USD   -3.59%
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Oportun Financial : extends a $2 million low-interest loan to help other Community Development Financial Institutions (CDFIs) advance financial inclusion

09/23/2021 | 03:42pm EST

SAN CARLOS, CALIFORNIA-September 23, 2021-Oportun Financial Corporation (NASDAQ: OPRT), an A.I.-driven financial services and technology company that provides hardworking people with access to responsible and affordable credit, today announced it is extending a $2 million low-interest loan to the Opportunity Finance Network (OFN), the proceeds of which will be used to make loans to other Community Development Financial Institutions (CDFI) serving low- and moderate-income communities. This loan replaces the $1 million low-interest loan that Oportun previously extended to OFN.

"The historic lack of responsible lending to low-and moderate-income communities has created challenges for the hardworking people that Oportun seeks to help," said Raul Vazquez, CEO of Oportun. "As a successful public company and CDFI, we are in a position to multiply our impact by making more low-interest loans available, through OFN, to other CDFIs who share our financially inclusive mission and are in a position to help consumers we do not currently serve."

"OFN proudly helps money flow to people and places where traditional finance doesn't reach," said Lisa Mensah, OFN President and CEO. "We will direct these resources to other CDFIs, so they can provide affordable financial services in low- and moderate-income communities and help them thrive."

Since 2006, Oportun has lent over $10.5 billion through over 4.3 million affordable loans that have saved customers an estimated $1.9 billion in interest and fees, according to a study commissioned by Oportun and conducted by the Financial Health Network, a leading nonprofit authority on consumer financial health. Oportun has also helped more than 925,000 people who came to the company without a FICO® score start to establish their credit history.

About Oportun

Oportun (Nasdaq: OPRT) is a financial services company that leverages its digital platform to provide responsible consumer credit to hardworking people. Using A.I.-driven models that are built on 15 years of proprietary customer insights and billions of unique data points, Oportun has extended more than 4.3 million loans and over $10.5 billion in affordable credit, providing its customers with alternatives to payday and auto title loans. In recognition of its responsibly designed products which help consumers build their credit history, Oportun has been certified as a Community Development Financial Institution (CDFI) since 2009.

Media Contact

George Gonzalez
650-769-0441
[email protected]

Disclaimer

Oportun Financial Corp. published this content on 23 September 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 23 September 2021 19:41:05 UTC.


© Publicnow 2021
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Financials (USD)
Sales 2021 617 M - -
Net income 2021 52,1 M - -
Net Debt 2021 - - -
P/E ratio 2021 12,0x
Yield 2021 -
Capitalization 588 M 588 M -
Capi. / Sales 2021 0,95x
Capi. / Sales 2022 0,72x
Nbr of Employees 2 937
Free-Float 89,5%
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 6
Last Close Price 20,70 $
Average target price 28,67 $
Spread / Average Target 38,5%
EPS Revisions
Managers and Directors
Raul Vazquez President, Chief Executive Officer & Director
Jonathan Aaron Coblentz CFO, Treasurer & Chief Administrative Officer
Matthew Jenkins Chief Operations Officer & GM-Personal Loans
R. Neil Williams Independent Director
David N. Strohm Independent Director
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