Oppfi Inc. (OPFI) Secures $150M Credit Facility to Fuel Growth and Expand Credit Access

OppFi Inc. (NYSE:OPFI) is one of the top credit services stocks to buy amid the US rate cut. On October 2, OppFi Inc. (NYSE:OPFI) announced a new $150 million revolving credit facility with Castlelake L.P., replacing its previous arrangement and lowering its interest rate to SOFR plus 6.0%.

Oppfi Inc. (OPFI) Secures $150M Credit Facility to Fuel Growth and Expand Credit Access

The four-year deal reflects improved financing terms and highlights OppFi’s strong liquidity, backed by a current ratio of 19.57. With revenue up 31% year-over-year and analysts raising earnings estimates, the company expects the facility to support growth in receivables and expand access to underserved borrowers. OppFi holds a 35% stake in Bitty Holdings, which provides funding solutions to small businesses.

OppFi Inc. (NYSE:OPFI) is a tech-enabled financial platform that provides installment loans to consumers, often those underserved by traditional banks, through its OppLoans platform. The company partners with banks to offer financial products and uses a data-driven approach with over 500 attributes to assess creditworthiness.

While we acknowledge the potential of OPFI to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than OPFI and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.