OppFi Inc. operates as a tech-enabled, mission-driven specialty finance platform designed to expand credit access for non-prime consumers. The company's core business model revolves around its OppLoans platform, which facilitates simple-interest installment loans for everyday Americans who may not qualify for traditional bank credit. OppFi does not operate as a bank itself; instead, it utilizes an "Up-C" structure and partners with FDIC-insured banks to originate loans across the United States. The company leverages proprietary machine-learning models and automated underwriting to process applications and make credit decisions rapidly. OppFi generates the vast majority of its revenue from finance charges and interest income on the installment contracts it facilitates and purchases from its bank partners. The company's product offerings are characterized by transparent pricing, with no origination, late, or insufficient funds fees, and it reports payments to major credit bureaus to help customers build their credit profiles. Geographically, OppFi operates exclusively within the United States. In addition to its core lending platform, the company holds an equity interest in Bitty Holdings, which provides revenue-based financing to small businesses, and has pursued strategic acquisitions, such as its planned integration with BNC National Bank, to diversify its product suite and lower funding costs.
