OppFi’s Lending Platform OppLoans Launches Same-Day Funding Service

OppFi surpasses 1 million unique customer milestone in its history and expands social impact relationships to support customers with additional financial resources and education

OppFi Inc. (NYSE:OPFI) (“OppFi” or the “Company”), a mission-driven fintech platform that helps everyday Americans gain access to credit with digital specialty finance products, announced the launch of a same-day funding service on its OppLoans lending platform and the milestone of surpassing one million unique customers over its 10-year history.

In collaboration with the banks that OppFi powers, qualified customers who apply and are approved by 1:00 pm ET on a business day are eligible for funding on the same day their applications are approved. Approximately one-third of customers through the OppFi platform have received funds on the same day their applications were approved since the launch of this feature.

The same-day funding service supports OppFi’s overall commitment to improving customer financial health. The Company also provides access to financial education and local resources, as well as borrower assistance and payment deferral in the event of hardship. As part of OppFi’s commitment to help customers build a better financial path through more resources, education and support, the Company maintains relationships with a suite of social impact-focused organizations whose services OppFi customers can access for free. OppFi seeks to add relationships with organizations that share its social impact mission. Current relationships include:

• Steady – which provides customers access to tools and resources to secure opportunities to increase personal income, including customized insights and cash incentives.

• SpringFour – which provides customers access to more than 20,000 vetted nonprofit and government resources in 30 different categories to help consumers meet financial objectives, reduce household expenses and avoid payment delinquencies.

• Experian Boost® – which provides customers a free to use, first-of-its-kind product to potentially improve their FICO® Score with alternative data by including on-time utility, telecom, rent and certain streaming service payments in scoring methodology.*

In addition, through the OppFi platform, customers are provided with industry-leading features and protections, including: simple interest, installment loans with no balloon payments, no ancillary fees (neither origination, nor late, nor insufficient funds), and no prepayment penalties; reporting to the major credit bureaus; and a proprietary loan referral initiative, the OppFi TurnUp Program, which helps consumers find more affordable credit options by checking the market voluntarily on behalf of applicants for sub-36% APR products.

"By offering same-day funding and valuable social impact tools on our platform, we're meeting a diverse set of financial needs for customers," said Todd Schwartz, Chief Executive Officer and Executive Chairman of OppFi. “Our platform has industry-leading features that further distinguish OppLoans in the marketplace and enhance our mission to facilitate safe, simple, and more affordable credit access to the 60 million Americans who are underserved by banks and other financial institutions. We are very excited to have surpassed the one million unique customer milestone in our history and appreciate the trust that customers have placed in us.”

*Results will vary. Not all payments are boost-eligible. Some users may not receive an improved score or approval odds. Not all lenders use Experian credit files, and not all lenders use scores impacted by Experian Boost®.

About OppFi

OppFi (NYSE: OPFI) is a mission-driven fintech platform that helps everyday Americans gain access to credit with digital specialty finance products. Through its unwavering commitment to customer service, the Company supports consumers, who are turned away by mainstream options, to build better financial health. OppFi maintains a 4.6/5.0 star rating on Trustpilot with more than 3,600 reviews, making the Company one of the top consumer-rated financial platforms online, and an A+ rating from the Better Business Bureau (BBB). For more information, please visit oppfi.com.

Forward-Looking Statements

This press release includes "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. OppFi’s actual results may differ from its expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as "expect," "estimate," "project," "budget," "forecast," "anticipate," "intend," "plan," "may," "will," "could," "should," "believes," "predicts," "potential," "possible," "continue," and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. These forward-looking statements include, without limitation, future services, features, and protections offered by the OppFi platform and the benefits of the social impact relationships on OppFi’s business and for its customers. These forward-looking statements are based on OppFi’s current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Most of these factors are outside OppFi’s control and are difficult to predict. Factors that may cause such differences include, but are not limited to: the impact of inflation on OppFi’s business; the impact of COVID-19 on OppFi’s business; the impact of stimulus or other government programs; whether OppFi will be successful in obtaining declaratory relief against the Commissioner of the Department of Financial Protection and Innovation for the State of California; whether OppFi will be subject to AB 539; whether OppFi’s bank partners will continue to lend in California and whether OppFi’s financing sources will continue to finance the purchase of participation rights in loans originated by OppFi’s bank partners in California; the risk that the business combination disrupts current plans and operations; the ability to recognize the anticipated benefits of the business combination, which may be affected by, among other things, competition, the ability of OppFi to grow and manage growth profitably and retain its key employees; risks related to new products; concentration risk; costs related to the business combination; changes in applicable laws or regulations; the possibility that OppFi may be adversely affected by other economic, business, and/or competitive factors; risks related to management transitions; and other risks and uncertainties indicated from time to time in OppFi’s filings with the United States Securities and Exchange Commission, in particular, contained in the section or sections captioned “Risk Factors.” OppFi cautions that the foregoing list of factors is not exclusive, and readers should not place undue reliance upon any forward-looking statements, which speak only as of the date made. OppFi does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based.

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