Oportun Completes $125 Million Asset-Backed Securitization, Diversifies Access to Capital to Provide Affordable Credit to Hispanics

By Publisher on July 8, 2015   Internet, Picture Gallery  

REDWOOD CITY, CA — (Marketwired) — 07/08/15 — Oportun, formerly known as Progreso Financiero, today announced its fourth securitization, an issuance of $125 million of two-year, asset-backed bonds secured by a pool of its installment loans. Oportun is a mission-driven financial services company that uses advanced data analytics and technology to provide small dollar loans to Hispanic borrowers, many of whom have little or no credit history. The bonds, which received investment-grade ratings