ADDED
34 ) 57 Consolidated Balance Sheets 59 Consolidated Statements of Operations 60 Consolidated Statements of Changes in Stockholders' Equity 61 Consolidated Statements of Cash Flow 62 Notes to the Consolidated Financial Statements 63 Item 9.
Credit Products Since our founding in 2005, we have extended more than $21.8 billion in responsible credit through more than 8.0 million loans and credit cards, and helped over 1.3 million people who came to Oportun without a FICO score to begin establishing a credit history.
While many of the people who come to us are not well served by mainstream financial institutions due to limited credit history, we use billions of proprietary data points to score 100% of our loan applicants and offer our members responsibly designed and affordable credit products that are often otherwise unavailable to them.
Available only in California as of the end of 2023, Oportun now also offers secured personal loans ("SPL") in Texas, Florida, Arizona, New Jersey, Illinois, Nevada and Utah; however, through our partnership with Pathward, we have the opportunity to expand the coverage of our Secured Personal Loans up to approximately an additional 33 states.
We may seek to add additional Lending as a Service partners in the future, similar to our current partnerships with DolEx Dollar Express, Inc., Barri Financial Group (now consolidated into a single company DolFinTech ), and Western Union where we collect leads from 465 of their retail locations.
We leverage machine learning to rapidly build and test strategies across the member lifecycle, including through targeted digital marketing, underwriting, pricing, fraud and member servicing.
We charge fixed interest rates on our loans, which vary based on the amount disbursed and other factors, with a cap of 36% annual percentage rate ( APR ) in all cases.
As of December 31, 2025, for all active loans in our portfolio and at time of 7 disbursement, the weighted average term and APR at origination was 38 months and 35.2%, respectively.
The average loan size for loans we originated in 2025 was $3,098.
As of December 31, 2025, we originate unsecured personal loans in 2 states through state licenses and in 39 states through our partnership with Pathward.
REMOVED
34 ) 60 Consolidated Balance Sheets 62 Consolidated Statements of Operations 63 Consolidated Statements of Changes in Stockholders' Equity 64 Consolidated Statements of Cash Flow 65 Notes to the Consolidated Financial Statements 66 Item 9.
Our business has in the past been subject to the regulatory framework applicable to registered investment advisers, including regulation by the Securities and Exchange Commission (the SEC ).
In 2024, the Financial Health Network ("FHN") reported that more than two-thirds of U.S.
households "struggle with spending, saving, borrowing and planning" according to its Financial Health Pulse 2024 U.S.
Credit Products Since our founding in 2005, we have extended more than $19.7 billion in responsible credit through more than 7.4 million loans and credit cards, and helped over 1.2 million people who came to Oportun without a FICO score to begin establishing a credit history .
According to a study commissioned by us on the credit options available to people with little or no credit history, the Financial Health Network found that Oportun loans are, on average, 7 times less expensive than other options and up to 16 times less expensive as compared to online-only installment products.
In addition, the study found that our unsecured personal loan product has helped borrowers save more than $2.4 billion in interest and fees.
While many of the people who come to us are not well served by mainstream financial institutions due to limited credit history, we use A.I.
and billions of proprietary data points to score 100% of our loan applicants and offer our members responsibly designed and affordable credit products that are often otherwise unavailable to them.
In 2024, Set Save was ranked the #1 Savings App by Bankrate and a top budget app by Forbes.