OppFi Inc. is a leading financial technology platform that provides accessible and transparent lending solutions to consumers. The company was founded in 2012 by Todd Schwartz and Jared Kaplan, with the goal of addressing the underserved market of middle-income, credit-challenged consumers. OppFi is headquartered in Chicago, Illinois, and operates in multiple states across the United States.
OppFi's primary focus is on providing installment loans to consumers who may not have access to traditional banking services or who have limited credit history. The company utilizes advanced analytics and technology to assess borrowers' creditworthiness and offer personalized loan options with clear terms and affordable repayment plans. By leveraging technology, OppFi aims to provide a convenient and user-friendly borrowing experience.
One exceptional aspect of OppFi's business model is its commitment to financial inclusion. The company recognizes the challenges faced by credit-challenged consumers and strives to provide them with fair and transparent lending options. OppFi emphasizes responsible lending practices and provides financial education resources to help borrowers improve their financial well-being.
In addition to its installment loans, OppFi has expanded its product offering to include credit cards. The company introduced the OppFi Card, a Mastercard credit card that is designed to help consumers build and rebuild their credit. The OppFi Card offers credit limits up to $10,000 and provides users with tools and resources to improve their credit scores over time.