Item 1.01. Entry into a Material Definitive Agreement On June 30, 2026, (the “Effective Date”) Oportun Financial Corporation (the “Company”) through its subsidiary, Oportun, Inc., (“Oportun”) entered into a Program Management Agreement (the “Agreement”) with Column National Association, a national banking association (“Column”), establishing a new lending program.…
Oportun (Nasdaq: OPRT) is a mission-driven financial services company that puts its members’ financial goals within reach. With intelligent borrowing, savings, and budgeting capabilities, Oportun empowers members with the confidence to build a better financial future. Since inception, Oportun has provided more than $22.2 billion in responsible and affordable credit, saved its members more than $2.5 billion in interest and fees, and helped its members set aside an average of more than $1,800 annually. For more information, visit Oportun.com.
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Item 1.01Item 1.01 - Entry into Material Agreement
Item 1.01. Entry into a Material Definitive Agreement
On June 30, 2026, (the “Effective Date”) Oportun Financial Corporation (the “Company”) through its subsidiary, Oportun, Inc., (“Oportun”) entered into a Program Management Agreement (the “Agreement”) with Column National Association, a national banking association (“Column”), establishing a new lending program.
Under the Agreement, Column will originate certain unsecured personal loans for consumers in select states. Oportun will provide the platform, including marketing, application processing, fraud-prevention, servicing and program-administration services, subject to Column’s oversight and control and compliance with applicable law.
The Agreement allows Oportun to purchase loans originated by Column, other than loans retained by Column. The Agreement includes certain exclusivity provisions with respect to specified loan products and certain future financial products, subject to existing bank partner rights and other exceptions.
The Agreement includes compliance, oversight, audit, reporting, reserve, information-security, indemnification, termination and wind-down provisions.
The Agreement has an initial term of four years and renews automatically for successive one-year periods unless either party provides timely notice of non-renewal.
The foregoing description of the Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Agreement, a copy of which will be filed as an exhibit to the Company's Quarterly Report on Form 10-Q for the quarter ending June 30, 2026.